Publishing giant, Reed Elsevier, unveiled yesterday that it had acquired US data services group, Seisint in a deal worth $775 million (£417 million).
Reed said that the groups legal and government information arm, LexisNexis, will wholly own Seisint and will fit very strongly with the LexisNexis risk management business and allow it to expand further.
A statement from the group said that Seisint operates in a $5 billion risk management sector, which is “growing at 7-9% per annum for the past ten years and has highly attractive future growth prospects.” It is expected that Seisint will grow revenues by more than 40% to $115 million this year and the business will contribute to Reed’s earnings in the first year of integration.
Chief executive of LexisNexis, Andrew Prozes said: “We are very excited by the opportunities presented by this acquisition. Seisint is a strongly growing business and will significantly enhance LexisNexis’ ability to offer the most powerful, fastest, easier to use solutions in the rapidly growing Risk Management Sector. The acquisition will accelerate LexisNexis’ future revenue and profit growth.”
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