NetNews Usenet Archive 1993 #3/NN_1993_3.iso/spool/bit/listserv/pacsl/3114

Text File | 1993-01-21 | 5.6 KB | 97 lines

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Date:         Thu, 21 Jan 1993 12:06:28 CDT
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Subject:      Re: IDI sold to OCLC?
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Thanks also to the others who responded.   -Jill

----------------------------Original message----------------------------
This came from BASIS-L.

Lee Ann Bertram
[e-mail]
------------------------------------------------------------------------------
Date: 1/18/93 4:24 PM
From: [e-mail]


FOR IMMEDIATE RELEASE                            FOR MORE INFORMATION CALL:
                                                 Nita Dean [phone]

         OCLC ANNOUNCES INTENT TO ACQUIRE INFORMATION DIMENSIONS, INC.

    DUBLIN, Ohio, Jan. 15, 1993--OCLC Online Computer Library Center announces
that it and Battelle Memorial Institute have signed a letter of intent that,
following the successful completion of a 90-day due diligence process, could
lead to the acquisition by OCLC of Information Dimensions, Inc., a subsidiary
of Battelle.
    Information Dimensions, Inc. (IDI) develops and markets computer software
products for managing electronic documents and text on leading mainframe
computers, microcomputers, workstations, and PCs.  Its two major software
products--BASISplus and ZyINDEX--are widely recognized as industry leaders in
database and documents management.  Sales in 1992 were $32.5 million, more than
half of which were international.  IDI has 280 employees worldwide, 150 of whom
are located in its headquarters in Dublin, Ohio.  It also maintains major sales
offices in London, Paris, Geneva, Stockholm, and Frankfurt as well as nine such
offices in North America.  It was founded in 1986 as a for-profit subsidiary of
the not-for-profit Battelle Memorial Institute, the world-renowned research and
development center headquartered in Columbus, Ohio.
    IDI's clients include most of the Fortune 500 companies as well as numerous
government agencies, publishers, and financial organizations.  These
organizations generate millions of pages of text information, but typically
store their most important business, technical, safety, and regulatory
documents outside of databases.  IDI software helps them transform their
documents into information databases that provide systematic access to large
amounts of information.  Special (corporate) libraries throughout the world
rely on IDI's software.  Coupled with OCLC's telecommunications network and
electronic journal interface, IDI's software will provide OCLC with the
capability of delivering all kinds of electronic information to users.
    K. Wayne Smith, President and Chief Executive Officer, OCLC, stated:  "IDI
would be very attractive as a stand-alone operation.  But, we believe that IDI
also provides an exciting strategic fit for OCLC in full-text electronic
publishing, electronic archiving, and information management--three areas of
growing importance in OCLC's future.  In R&D, in marketing, and in future
products and services, opportunities exist for cost savings and technology
sharing that will significantly benefit the users of both organizations.  We
are acquiring people, skills, and software vital to our strategic plans.  With
this acquisition, OCLC will make a quantum leap toward its ultimate goal of
providing information to people when and where they want it, in the form they
want, and at a price they can afford."
    William Griffith, President and CEO of Information Dimensions, stated:
"The opportunities our two companies have together are tremendous.  OCLC's many
years of online information management, investment in industry standards, such
as Standard Generalized Markup Language (SGML), and electronic publishing are
very complementary to IDI's expertise in document management technology.  OCLC
recognizes the unique value of our products and is prepared to help our
organization expand our markets, our product lines, and our distribution
channels.  Together, we can be one of the leaders in the information management
and distribution business."
    OCLC, a nonprofit computer library service and research organization based
in Dublin, Ohio, operates an international computer network used by more than
15,000 libraries in 47 countries for cataloging, resource sharing, and
reference services.  OCLC has annual revenues of some $95 million and over 800
employees worldwide.  OCLC is a recognized leader in electronic publishing.
Last year, OCLC and its partner, the American Association for the Advancement
of Science, introduced The Online Journal of Current Clinical Trials, the
world's first peer-reviewed electronic science journal.  OCLC is also
developing an online database of full-text articles from chemical journals in
conjunction with Cornell University, the American Chemical Society, and
Bellcore.  In collaboration with the Association of American Publishers, OCLC
also operates the Electronic Publishing Special Interest Group, which promotes
the use of and development of the Electronic Manuscript Standard for authors,
publishers, typesetters, libraries, and information consumers.  (PS)

                                     -30-

From: BERTRAM LEE ANN               (MCVAX0::BERTRAM)