Hello Vista, ByeBye Sommers
In the latest issue of Library Journal, there’s a brief article titled “SirsiDynix Acquisition: What It Means.” It notes that Vista Equity Partners finalized its acquisition of the library automation company in record time. The intent to purchase was announced on December 27th and the deal closed on January 17th. The first thing it apparently “means,” however, is the departure of CEO Patrick Sommers, who has been with the company since 2001. Prior to that he held top management positions at Dialog. The press release, dated February 16, 2007 (although it didn’t hit my inbox until Saturday morning), says the resignation is effective “immediately” and that a search for a new CEO is underway. Seems a bit sudden and abrupt, leaving only a month after the acquisition became final, but CEOs of acquired companies shouldn’t expect much in the way of job retention. Many in the library community hope that Stephen Abram doesn’t follow Pat out the door.