Business Editors & High-Tech Writers
LONDON--(BUSINESS WIRE)--Jan. 20, 2000--The LEXIS-NEXIS Group, a
unit of Reed Elsevier Inc., through its subsidiary LEXIS-NEXIS EUROPE,
has reached agreement to purchase the Business Information Product
(BIP) division of the Financial Times Group.
BIP's products are FT Profile, FT Discovery and FT NewsWatch.
Customers include many of the world's leading financial services,
consulting, legal and media firms.
As part of the transaction, the FT Group will extend its existing
licensing agreement for U.S. and Asian markets with LEXIS-NEXIS to
European markets, enabling LEXIS-NEXIS to continue to provide high
value Financial Times content to the existing FT Profile, FT Discovery
and FT NewsWatch customer bases, and to LEXIS-NEXIS customers
Commenting on the agreement, Stephen Hill, Chief Executive of the
FT Group said: "The FT Group's strategy is to be a leader in the
provision of business information, comment and analysis, with a global
perspective. Our historic archive services have a strong niche but
lack the scale required to compete successfully in the world-wide
market. In LEXIS-NEXIS the business will have a committed owner and
can benefit from economies of scale and significant technology
Jon Webb, Managing Director of LEXIS-NEXIS EUROPE said: "I am
extremely pleased with this acquisition as the combination of BIP with
LEXIS-NEXIS will enable us to much better serve information users in
Europe and leverage the assets of LEXIS-NEXIS Inc. This is in direct
response to growing customer demands for global information and global
The Financial Times Group is part of Pearson plc, the
international media company, which owns Pearson Education, the world's
leading education company; Pearson Television, the world's leading
international independent television production company; the Penguin
Group, the world's most renowned English-language publisher; and
Recoletos, one of Spain's leading media companies. For more
information about Pearson plc, go to www.pearson.com or please contact
John Fallon at 44 (171) 441-2310.
Corporate decision-makers rely on the LEXIS(R)-NEXIS(R) services,
via the Web or dial-up software, to stay current, gain insights and
maintain a competitive edge. Providing access to thousands of
world-wide newspapers, magazines, trade journals, industry
newsletters, financial data, public records, legislative records, data
on companies and their executives, makes the LEXIS-NEXIS service an
indispensable tool for gathering competitive intelligence and
providing accurate answers to business questions.
LEXIS-NEXIS adds millions of documents each week to more than
2.5 billion documents online. The NEXIS(R) service alone offers more
than 18,800 sources of news and business information and is unmatched
in depth and breadth of information. The LEXIS-NEXIS service is
distinguished from all other electronic information sources, including
the World Wide Web, by the scope and quality of its online content.
The LEXIS-NEXIS Group (www.lexis-nexis.com) is a trusted name in
decision-support information and services in the legal, business and
government markets. The company helps a variety of professionals
collect, manage and use information more productively. For more
information, please contact Jon Webb at 44 (171) 464-1345, or
Janet Brewer (937) 865-7297.
Reed Elsevier Inc. is a member of the Reed Elsevier plc group
which is owned equally by Reed International P.L.C. (NYSE:RUK) and
Elsevier NV (NYSE:ENL). It is a world-leading publisher and
information provider whose activities include scientific,
professional, and business publishing. Reed Elsevier's principal
operations are in North America and Europe and it has annual sales in
excess of 3 billion Pounds Sterling (US$5 billion).
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