Publishing group Reed Elsevier, the owner of the LexisNexis database, will buy Accuity Holdings from investment firm Investcorp.
Round-up of today’s M&A Deals
Publishing group Reed Elsevier, the owner of the LexisNexis database, will buy Accuity Holdings from investment firm Investcorp.
The deal aimed at strengthening its operations in the financial-services industry stand at a consideration of £343 million in cash.
Accuity, a U.S. provider of online data for the financial- services industry, is ‘highly complementary’ with Reed Elsevier’s Bankers’ Almanac and LexisNexis Risk Solutions, the London-based company said in a statement today.
Reed Elsevier said in July that first-half revenue fell 3 per cent on currency swings and asset sales. The company last year sold off parts of its Reed Business Information trade- magazine unit, including all U.S. publishing operations except the Variety title. At the same time, the company has increased investment in product development and sales and marketing to tap growth in electronic data offerings.
Accuity will be integrated into Bankers’ Almanac and share combined data assets with LexisNexis Risk Solutions. The acquisition will boost Reed Elsevier’s adjusted earnings from the outset and is expected to close in the fourth quarter, according to the company.
‘This move seems to take Reed further away from front office business and into a more crowded, less proprietary field in direct competition with software/process companies,’ Giasone Salati, a London-based analyst at Espirito Santo Investment Bank, said in a note.
Round-up of today’s M&A Deals
- Ubisense Group is buy Integrated Mapping Services, a US-based company focused on delivering geospatial business solutions to electric and gas utilities
Value: $700,000
Advisers: College Hill, Canaccord Genuity
- Scrap metals processer ELG Haniel GmbH of Germany has acquired 100 per cent of the shares in Recycled Carbon Fibre Ltd, a UK company which converts carbon fibre reinforced plastic production waste into re-useable carbon fibre
Value: undisclosed
Advisers: undisclosed
- Anglia Components has changed ownership with company CEO Steve Rawlins signing an agreement with Bill Ingram, the president and majority shareholder, to buy all the distributor’s shares
Value: undisclosed
Advisers: undisclosed
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