(2 May 2022) Events of the last year have reshaped the library technology industry. Previous rounds of acquisitions pale in comparison to the acquisition of ProQuest by Clarivate, which has propelled the leading library technology provider into the broader commercial sector of scholarly communications. This deal signals that the gap in size among vendors is widening, as ProQuest businesses Ex Libris and Innovative Interfaces also join Clarivate.
The emergence of such a large business at the top of the industry has accelerated consolidation among mid-level players that aim to increase scale and efficiency to remain competitive. This was a banner year for consolidation of midsize competitors, with more acquisitions than any prior year.
These deals raise concerns about weakened competition, but they may also enable new industry dynamics that will spark innovation and synergy within the broader research and education landscape. Small companies with visions for innovation often lack the resources to deliver, which larger companies can provide. Increased investor and stockholder involvement, however, translates into pressure to maximize profits and growth. The way these competing dynamics play out has important implications for libraries.
Marshall Breeding has the review in full in American Libraries.
