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Gallery Case Study_EN

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Page 0 of 3 5800 Explorer Drive, 5th Floor, Mississauga, ON Canada L4W 5K9 | Tel: (905) 267 5400 | Fax: (905) 238 8408 1 Gallery Systems' leadership takes a leap of faith with Volaris Group CASE STUDY "You never know what to expect when you're being acquired, but with Volaris, we have been pleased to see how positively everything has worked out" —Jay Hoffman, Chief Executive Officer of Gallery Systems, Inc. Background Gallery Systems, Inc. is a provider of cultural collections asset management software and web publishing solutions for museums, corporate and private collections, and educational institutions. With over 800 clients worldwide, Gallery Systems is the market leader in its field. When some of Gallery's major shareholders started contemplating an exit in preparation for retirement and estate planning, shareholder and Chief Executive Officer, Jay Hoffman was obliged to contemplate what this would mean for him and the rest of the organization. Hoffman believed strongly in the value of the company, and after operating autonomously for over 20 years he was concerned about what it would be like to work with new owners. For many years, Gallery had been courted by prospective buyers. Each time, Hoffman would dismiss the offers, as there was never any motivation to sell this profitable and growing business. However, when his partners began to think seriously about retirement, he started looking more closely at his options. To ensure Gallery's long-term viability, Hoffman understood that finding the right buyer would be crucial. But after whittling down the list of Managing Uncertainty potential buyers to 8-10 viable offers, Hoffman was still uneasy about the sale. It was therefore important for Hoffman to get to truly know the prospective buyers and to understand their motivation for acquiring. "You never really know what it will actually be like" —Jay Hoffman

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