ASX listed Knosys has acquired Australian vendor LIBERO, developer of Library Management Software (LMS) used by many public libraries or tertiary educations across Australia, for $A5 million in cash and shares.

Knosys says the acquisition will broaden its SaaS profolio, which now includes the Knowledge IQ knowledge management platform and GreenOrbit Intelligent Intranet.

LIBERO is headquartered in Brisbane with 17 employees and generates annual revenue of $A2.2 million. It has 116 clients located across 8 countries, predominantly Australia and Germany/EU

The global market for LMS is predicted to reach US$2.4 billion by 2024, at a compound annual growth rate of 4%.

According to a statement from Knosys, “The acquisition of the LIBERO business is in line with Knosys’ growth strategy to deliver multiple SaaS offerings under a shared services model. This growth strategy is part of an ongoing growth program to enable Knosys to scale its global operations, acquire new development capabilities and expand sales offices whilst maintaining a cost-effective shared services model.”

A specially incorporated Knosys subsidiary (Libero Systems Pty Ltd) will acquire the LIBERO business assets from the Vendors, including all the issued share capital in its German subsidiary, Libero IS GmbH.

Knosys Managing Director, John Thompson, said, “LIBERO’s leading Library Management Software solutions are highly complementary to our existing portfolio of SaaS solutions. Knosys’ existing global network of offices and personnel across APAC and North America will be leveraged to drive revenue growth in LIBERO.

“Our initial focus will be to introduce this solution to the US, which is the largest market for LMS. We are excited to begin integrating LIBERO into the group and bring to market this new compelling SaaS solution focused on management, delivery, and accessibility of information assets in the Library sector. Furthermore, being able to self-fund the transaction is a great outcome for the company and its investors.”