22nd Jul 2014 07:37
LONDON (Alliance News) - Reed Elsevier PLC Tuesday said its LexisNexis Legal & Professional subsidiary will buy Wolters Kluwer's Canadian legal publishing activities.
The acquisition will extend the LexisNexis portfolio of next-generation products and solutions for customers within the Canadian market, said FTSE 100-listed Reed Elsevier in a statement.
The Canadian legal assets to be sold include print and online information products for law firms, corporate counsel, and human resources professionals.
"The agreement with Wolters Kluwer will allow us to better serve customers in Canada and supports our strategy to build leading positions in our core markets," said Mike Walsh, CEO of LexisNexis Legal & Professional.
Simultaneously, Wolters Kluwer Legal & Regulatory, a division of Wolters Kluwer, is set to buy the LexisNexis legal business in Poland from Reed Elsevier.
The company is aiming to expand its portfolio of digital information offerings for the Polish law firm, government, and corporate segments.
No financial terms of the deal were disclosed.
Reed Elsevier shares were up 0.2% at 929.5 pence in early trading Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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