Reed said the sale was intended to reduce its exposure to advertising markets and cyclicality, as part of a wider streamlining of its portfolio. The business had 906 million pounds ($1.77 billion) in sales last year, Reed Elsevier reported Thursday.
Sir Crispin Davis, CEO of Reed Elsevier said in a statement: "RBI is a well-managed high quality business as evidenced by the success of its online growth and the control of costs. Its advertising revenue model and the inherent cyclicality fit less well however with the subscription-based information and workflow solutions focus of Reed Elsevier's strategy." - Tom Groppe
