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Reed Elsevier Buys Mendeley Cloud-Based Research Service

April 9 (Bloomberg) -- Reed Elsevier Plc, owner of the LexisNexis database, acquired Mendeley Ltd., a cloud-based research and collaboration service, to add to its scientific, technical and medical publishing.

Elsevier, the Reed division buying London-based Mendeley, will provide the acquired company’s customers greater access to content, data and analytics tools, according to a statement today. Financial terms weren’t disclosed.

“Our vision is to make science more collaborative and open, and now we have the support of the world’s largest science information provider,” Victor Henning, Mendeley’s co-founder and chief executive officer, said in the statement.

The company, started in 2008, developed a desktop app that automatically pulls metadata and keywords from PDFs, creating a searchable research-paper database online.

Reed Elsevier declined 0.7 percent to 750 pence as of 14:50 p.m. in London trading. The shares have advanced 17 percent this year.

The Elsevier unit provides scientific, technical and medical information products.

To contact the reporters on this story: Kristen Schweizer in London at kschweizer1@bloomberg.net; Anthony Palazzo in Los Angeles at apalazzo@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

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