LexisNexis acquires public records info. company; sells textbook list

Business Publisher, August 31, 2004

LexisNexis (Dayton, OH), a unit of Reed Elsevier, has entered into a definitive agreement to acquire all shares of Seisint, Inc. (Boca Raton, FL) for $775 million. Seisint is a provider of public record services in the U.S. risk management sector.

Seisint's main product, Accurint, provides online access and analysis of public record and related information, principally serving the collection, federal and legal segments. LexisNexis said that Seisint's technology "allows customers to compile, retrieve, and analyze data quickly, accurately and cost-efficiently." It will be combined with LexisNexis' Risk Management operations. Seisint is expected to grow revenues over 40% in 2004 to more than $115 million with EBITDA of approximately $45 million. LexisNexis pro forma combined revenues in risk management operations following the acquisition of Seisint will be approximately $300 million.

In related news, LexisNexis UK (London), has sold its academic law textbook list to Oxford University Press (OUP; Oxford, UK). No terms were given. LexisNexis was represented in the deal by The van Tulleken Company (New York/London).

OUP said the acquired list includes such titles as "Smith & Hogan's Criminal Law" and "Hepple, Howarth & Matthews, Tort Cases & Materials" and will complement its existing law portfolio. LexisNexis said that it is selling the textbook list to focus all of its activities in the student market building "user preference" for its legal online databases.