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Royal Swets & Zeitlinger Holding NV (Koninklijke Swets & Zeitlinger Holding NV), operating under the trade name Swets, was a group of information services companies operating worldwide as an intermediary between publishers and libraries. Swets provided overall management and processing of subscriptions to scientific and professional printed and electronic publications for libraries. The parent company of Royal Swets & Zeitlinger Holding was Swets & Zeitlinger Group BV, and its main trading subsidiary was Swets Information Services BV. The Swets companies were progressively declared bankrupt between September and November 2014.
Swets' 2013 annual report, released on 8 August 2014, included the following market update report: "2013 was a turbulent year for Swets. It has become clear that the intended transformation of Swets requires more capital and scale than is currently available. The ultimate shareholders of Swets Group in close the lenders have decided to put all shares of Royal Swets & Zeitlinger Holding N.V. up for sale and have initiated a competitive auction process with a planned sale in Q3 2014. The lenders support the plan and have decided to postpone the demand for repayment as long as the execution of the sales process develops according to the plan". The market update further stated that as Swets had "failed to meet its covenant requirements related to the long term financing. As a consequence of this breach the lenders are entitled to demand immediate repayment." The problems were attributed to the move from print to digital publishing, which has lower commissions, and facilitates direct publisher–customer relationships in place of intermediaries.
Swets bankruptcy documents at CMS
{{Authority control Privately held companies of the Netherlands Multinational companies headquartered in the Netherlands Business services companies established in 1901 Business services companies disestablished in the 21st century Dutch companies established in 1901 Dutch companies disestablished in 2014
Royal Swets & Zeitlinger Holding NV (Koninklijke Swets & Zeitlinger Holding NV), operating under the trade name Swets, was a group of information services companies operating worldwide as an intermediary between publishers and libraries. Swets provided overall management and processing of subscriptions to scientific and professional printed and electronic publications for libraries. The parent company of Royal Swets & Zeitlinger Holding was Swets & Zeitlinger Group BV, and its main trading subsidiary was Swets Information Services BV. The Swets companies were progressively declared bankrupt between September and November 2014.
Swets' 2013 annual report, released on 8 August 2014, included the following market update report: "2013 was a turbulent year for Swets. It has become clear that the intended transformation of Swets requires more capital and scale than is currently available. The ultimate shareholders of Swets Group in close the lenders have decided to put all shares of Royal Swets & Zeitlinger Holding N.V. up for sale and have initiated a competitive auction process with a planned sale in Q3 2014. The lenders support the plan and have decided to postpone the demand for repayment as long as the execution of the sales process develops according to the plan". The market update further stated that as Swets had "failed to meet its covenant requirements related to the long term financing. As a consequence of this breach the lenders are entitled to demand immediate repayment." The problems were attributed to the move from print to digital publishing, which has lower commissions, and facilitates direct publisher–customer relationships in place of intermediaries.
History
* Founded by Adriaan Swets & Heinrich Zeitlinger in 1901 * Swets bought out Zeitlinger after one year * Swets remained 100% owned by the Swets family until the mid-nineties * In 2003, Swets & Zeitlinger Publishers was sold toTaylor & Francis
Taylor & Francis Group is an international company originating in England that publishes books and academic journals. Its parts include Taylor & Francis, Routledge, F1000 (publisher), F1000 Research or Dovepress. It is a division of Informa ...
* In 2007 Swets was sold to Gilde, a Dutch investment firm
* In 2008/09 Swets opened offices in India, New Zealand, Finland, Austria & Switzerland, China
* Also in 2008 Swets acquired Boekhandel E. Frencken BV
* In 2010 started comprehensive e-book catalog and procurement options, supplying over 1 million e-books in 2011
* In 2011 Swets acquired the publisher communication services company Accucoms
* In 2014 Gilde put Swets up for sale.
* On 23 September 2014, Swets Information Services BV filed for and was granted bankruptcy.
* Between September and November 2014, Koninklijke Swets & Zeitlinger Holding and the other Swets companies were declared bankrupt.
* Private investment company Oak Point Partners acquired the remnant assets, consisting of any known and unknown assets that weren't previously administered, from the Swets Information Services, Inc. Bankruptcy Estate on January 9, 2018.
Partnerships
Swets partner products and services were: * ALJC (byALPSP
The Association of Learned and Professional Society Publishers (ALPSP) is an international trade association of non-profit publishers created in 1972. It is the largest association of scholarly and professional publishers in the world, with nearl ...
)
* PressDisplay (by Newspaperdirect)
* e-Select
* Scholarly Stats
* Document Delivery Service
* Mendeley Institutional Edition, powered by Swets
* Discovery Services (by Deep Web Technologies)
See also
*Electronic publishing
Electronic publishing (also referred to as publishing, digital publishing, or online publishing) includes the digital publication of e-books, Online magazine, digital magazines, and the development of digital library, digital libraries and catalo ...
References
External links
Swets bankruptcy documents at CMS
{{Authority control Privately held companies of the Netherlands Multinational companies headquartered in the Netherlands Business services companies established in 1901 Business services companies disestablished in the 21st century Dutch companies established in 1901 Dutch companies disestablished in 2014