Here's an excerpt from the press release:
The Kuali Foundation, Inc., is pleased to announce that a group of leading academic research libraries is partnering in the Kuali Open Library Environment (OLE) (pronounced Oh-LAY) project to develop software created specifically for the complex business management and workflow operations of academic and research libraries. . . .
More than 300 libraries, educational institutions, professional organizations, and businesses participated in some phase of planning for the OLE project, which was supported by a planning grant from the Andrew W. Mellon Foundation and led by Duke University. Based on that broad insight, OLE will create a next-generation library system that breaks away from print-based workflows and reflects the changing nature of library materials and new approaches to scholarly work. The project is designed to work well with other enterprise systems and to be easily modified to suit the needs of different institutions.
Consistent with the values of the Kuali Foundation, the resulting software will be made freely available to libraries around the world, which will then also contribute their expertise and enhancements through community processes that work for the library community. The project will build on the far-reaching expertise of its current and future partners. . . .
Integrated library systems, composed of relational databases and the application software to support them, are used to track materials within library collections, from ordering and paying for them to loaning them to library patrons. Because large academic research libraries are responsible for managing and providing access to millions of items, the need to be more proactive in software development is especially acute in light of the workflow needed to manage and curate a varied digital collection that includes leased electronic journal content and owned special collections. . . .
Kuali OLE partners include Indiana University (lead); Florida Consortium (University of Florida representing Florida International University, Florida State University, New College of Florida, Rollins College, University of Central Florida, University of Miami, University of South Florida, the Florida Center for Library Automation); Lehigh University; Triangle Research Libraries Network, represented by Duke University and North Carolina State University; University of Chicago; University of Maryland; University of Michigan; and the University of Pennsylvania.