LONDON (Reuters) - European information group Relx REL.L has agreed to buy Britain's SciBite, a provider of big data analytics in the pharmaceutical and healthcare industries, as part of its drive towards more digital analysis.
Relx, which has transformed from a traditional media publisher to one focusing on data and analytics across a range of industries, is paying around 65 million pounds ($86 million), a person familiar with the situation told Reuters.
The company, which has been hit during the pandemic by the suspension of corporate events, has grown organically for several years while adding some acquisitions in the area of data assets and analytics.
SciBite, founded in 2011, is based in the British science hub of Cambridge. It spots scientific insight by analysing vast quantities of text and content to help customers make decisions on R&D.
Reporting by Kate Holton; Editing by Nick Macfie
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