Feb 21 - Anglo-Dutch publisher Reed Elsevier ELSN.AS (REL.L) has announced plans to buy U.S. risk-management business ChoicePoint Inc (CPS.N) and sell its business information division amid a wider restructuring of the group.
Below are some facts about ChoicePoint and the Reed’s Business Information division. Reed has three core divisions; business information, legal and science & medical.
The division provides online media, magazines, exhibitions, directories and marketing services.
Numis Securities think the RBI division could fetch around 1 billion pounds ($2 billion).
RBI’s operating profit in 2007 was 260 million pounds.
Reed is not selling its exhibitions business which is within the division. The 2007 results show exhibitions had revenue of 577 million pounds, up 13 percent on the year, compared with business information’s 4 percent rise to 906 million pounds.
RBI magazine brands include New Scientist, Flight International, Computer Weekly, Farmers Weekly, Variety, Interior Design, Estates Gazette and the online recruitment Web site totaljobs.com.
RBI’s Chief Executive is Gerard van de Aast, who is also a Reed board member.
The business was founded in 1997 in a spin-off from Equifax, the U.S.-based credit bureau. It initially operated as a data provider to the insurance industry and has grown to provide businesses, government agencies and non-profit organizations with technology, software, information and marketing services to help manage risk and identify business opportunities.
The company is based in Alpharetta, Ga., and employs around 5,500 people. Its shares trade on the New York Stock Exchange.
ChoicePoint’s Chairman and Chief Executive is Derek Smith, who has led the business since it went public in 1997.
Reporting by Gavin Haycock; Editing by Louise Ireland