South African investment company Tsiya Group has acquired a minority stake in the country’s operation of specialist publisher LexisNexis for an undisclosed amount, Business Day has reported.
LexisNexis SA, originally a joint venture between Kagiso Media and Reed Elsevier, is a leading global provider of content-enabled workflow solutions to professionals in various sectors from law firms to corporations, government, law enforcement, tax, accounting, academic institutions and risk and compliance assessment.
In December 2011, Kagiso Media sold its 50 percent stake to Reed Elsevier for R565 million ($69 million), subsequently replacing LexisNexis in its stable by acquiring South African professional publisher Juta for R300 million ($37 million).
Tsiya Group chairman Fani Titi revealed a link to LexisNexis which began in 1997, when he was CEO of Kagiso Media. According to chairman, “LexisNexis is a market leader, and the investment allows us to form a long-term partnership with Reed Elsevier.”
LexisNexis SA CEO Billy Last said the deal would give his company significant strategic value as they move from being a “pure publishing business into a much broader range of workflow and information solutions for professionals.” He said, the company has a specific digital strategy, which is driving new product and creating significant opportunities for LexisNexis,” he said.
The deal forms part of LexisNexis SA’s empowerment strategy, the CEO added.
Tsiya Group was established in 2008; the investment company focuses on acquiring interests in unlisted businesses. The group’s investment in LexisNexis SA serves as a natural extension of Tsiya’s involvement in the media and information industry.
LexisNexis’s combination of authoritative content and powerful online research offers an extensive range of print and online research solutions for professionals, government, business and students. According to its website, the professional information provider also facilitates professional seminars, practical training, safety, health and environment compliance and online access to public record information.