26 June 2003. Reed Elsevier Group plc today announced that its global legal division, LexisNexis, has entered into a definative agreement to buy the public records business of Dolan Media Company.
Reed Elsevier Group plc today announced that its global legal division, LexisNexis, has entered into a definitive agreement to buy the public records business of Dolan Media Company. Dolan Media is a leading provider of US electronic public records information, including bankruptcies, civil judgements, federal and state tax liens and eviction notices. It specialises in large scale and rapid gathering of public records data.
The business will be integrated within the LexisNexis Risk Management operation, part of the Corporate and Federal Markets Division. Dolan Media's public records business is based in Minneapolis, Minnesota and has 180 employees. In the 12 months ended 31 March 2003 the public records business reported revenues of $44 million.
Bill Pardue, CEO of the Corporate and Federal Markets Division of LexisNexis commented: "The Dolan public records business will fit well with LexisNexis' broad public records content, industry focused solutions and risk scoring technology. This acquisition will expand further the capabilities of LexisNexis in the strongly growing risk management market."
About Reed Elsevier Group plc
Reed Elsevier Group plc is a world leading publisher and information provider. It is owned equally by its two parent companies, Reed Elsevier PLC and Reed Elsevier NV. The parent companies are listed on the London, Amsterdam and New York Stock Exchanges, under the following ticker symbols: London: REL; Amsterdam: REN; New York: RUK and ENL. In 2002, Reed Elsevier made adjusted profit before taxation of £927 million (€1,474 million) on turnover of £5,020 million (€7,982 million). The group employs 36,000 people, including approximately 22,000 in North America. Operating in the scientific, legal, educational and business-to-business sectors, Reed Elsevier provides high value and flexible information solutions to professional end users, with increasing emphasis on internet delivery.