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Reed Elsevier Sells Bowker to Cambridge Scientific Abstracts, Information Today, Inc.


Reed Elsevier Sells Bowker to Cambridge Scientific Abstracts,

Information Today, Inc. 
by Paula J. Hane  

August 24, 2001 - Information Today, Inc. (ITI) announced that it has
entered into a joint agreement with Cambridge Scientific Abstracts (CSA)
to buy R.R. Bowker from Reed Elsevier (R-E). Cambridge is purchasing the
major portion of Bowker, and ITI is acquiring the publishing rights to
about 10 reference books. The amount of the transaction was not disclosed
but sources close to the deal report that several bids were received in
the $20 to $30 million range. The deal is due to officially close the last
week of August. The acquisition is actually being accomplished in two
steps, with the Cambridge Information Group (CIG) first purchasing all of
Bowker from Reed Elsevier and forming Bowker, LLC, and then ITI purchasing
the directories from Bowker, LLC.

Cambridge is acquiring the entire Books In Print family of products;
Ulrich's Periodical Directory; Magazines for Libraries; a number of
abstracts and indexes, including British Humanities Index and Library and
Information Science Abstracts (LISA); a number of journals and
newsletters, such as Business Information Review and Journal of
Information Science; and miscellaneous other products. In addition,
Cambridge retains the contract for Bowker, LLC to have the exclusive right
to operate the U.S. office of the ISBN (International Standard Book
Number) agency.

Andrew (Drew) Meyer, the current CEO of Bowker and Marquis, will be
retiring. Michael Cairns, Bowker's former vice president for business
development, will be executive vice president and general manager of
Bowker, LLC, and will report to Jim McGinty, president of Bethesda,
Maryland-based Cambridge Information Group.