03 October 2002. LexisNexis, the global legal division of Reed Elsevier plc, has announced today that it will acquire MBO Verlag GmbH, based in Münster, Germany. The transaction is subject to formal regulatory clearance and completion is anticipated at the end of October. MBO is a subscription based electronic publisher of information solutions for lawyers, corporations, and government clients. MBO has developed a comprehensive database of German legislation and has a wide range of jurisprudence and other legal, tax, and regulatory information products.
"The German market offers excellent opportunities for LexisNexis, especially in the rapidly growing online segment," said Judy Vezmar, Chief Executive Officer of LexisNexis Europe. "MBO is a very successful company and has demonstrated strong and profitable growth for more than a decade. MBO's electronic content, its committed and highly qualified workforce, and its modern operations make it an ideal base for further developing our business in Germany."
"We are very pleased to have found a partner in LexisNexis who is committed to continue our strategy of developing the most comprehensive and most current legal information database in Germany", said Reinhold Schmidt, founder and future advisor of MBO Verlag. "LexisNexis' online expertise, technology, and global content open exciting new opportunities for the company. This will benefit our customers and also means that MBO's employees have a bright future ahead of them."
Sybille Franzmann, Managing Director of Lexis Nexis Deutschland, added: "This acquisition is the first major step for us in developing our legal information business in Germany. We will continue to form partnerships and alliances with other leading information companies as we develop information solutions for legal, tax, and business professionals in Germany."
LexisNexis is a global leader in comprehensive and authoritative legal, news and business information and tailored applications. Its online services combine searchable access to four billion documents from thousands of sources. A Reed Elsevier Group plc company [NYSE: ENL; NYSE: RUK], LexisNexis does business in 100 countries with 13,000 employees worldwide.