LexisNexis buys out Universal Law Publishing
Part of Anglo-Dutch multinational Reed Elsevier,
LexisNexis Legal & Professional serves customers in more than 100 countries
with 10,000 employees worldwide
After a
recent churn in the corporate law firm space, action has now shifted to the
$70-million Indian legal publication sector.
LexisNexis
India, a publisher and online solutions provider, has bought out 50-year
publishing house Universal Law Publishing for an undisclosed amount.
Part of
Anglo-Dutch multinational Reed Elsevier, LexisNexis Legal & Professional
serves customers in more than 100 countries with 10,000 employees worldwide.
Both
companies refused to confirm the deal size, citing confidentiality clauses.
"With this acquisition, our portfolio of legal titles will double to
2,000-plus," Mohan Ramaswamy, managing director India, LexisNexis Legal
& Professional, told the Business Standard. Some authors in Universal's
portfolio include V R Krishna Iyer, P N Bhagwati, Michael Kirby, Soli J
Sorabjee, and Arun Jaitley.
This acquisition will allow LexisNexis to reach a larger
set of legal practitioners in the country, said Ramaswamy. Plans are afoot to
make Universal's content available online through LexisNexis' India-customised
legal research solutions. The acquisition will ramp up LexisNexis's India
headcount from 200 to 250.
To speed its organic growth plans in India, Ramaswamy
said the firm plans to step up investment in human resources, spruce its
technology platform, bring more global products and solutions to the country,
and partner publications. Currently, 60 per cent of its business comes from the
print business, and the rest from the online route. The hugely fragmented legal
publication market in India is divided equally between organised and
unorganised players, and it is estimated to be growing at 10 per cent annually.
Source | Business
Standard | 2 June 2015
Regards
Pralhad Jadhav
Khaitan & Co
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