LEXIS-NEXIS Acquires BIP Division of Financial Times Electronic
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 world-wide.
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 investment."
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 service."
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).