London – LexisNexis South Africa, part of RELX Group, has agreed to purchase Korbitec (Pty) Ltd from the Naspers Group for an undisclosed amount. The transaction is subject to approval by the South African Competition Commission. Korbitec is a leading provider of content-enabled workflow solutions for South African property professionals, with two leading products, GhostConvey and Windeed, in addition to its Banking and Municipal services divisions. The business has its head office in Cape Town and has a major presence in Johannesburg with smaller satellite offices in Durban, Port Elizabeth, Bloemfontein and East London. Korbitec has about 290 employees.
Purchasing Korbitec and its wealth of expertise in the conveyancing market allows LexisNexis to further expand its world class legal information provision in South Africa.
The transaction leaves Naspers to focus on its remaining South African property interests in Property24, the leading South African property portal, and in PayProp, a property rental payment switch.
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Notes to Editors
About LexisNexis® Legal & Professional
LexisNexis® Legal & Professional (www.lexisnexis.com) is a leading global provider of content and technology solutions that enable professionals in legal, corporate, tax, government, academic and non-profit organizations to make informed decisions and achieve better business outcomes. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. Today, LexisNexis Legal & Professional harnesses leading-edge technology and world-class content, to help professionals work in faster, easier and more effective ways. Through close collaboration with its customers, the company ensures organizations can leverage its solutions to reduce risk, improve productivity, increase profitability and grow their business. Part of RELX Group, LexisNexis Legal & Professional serves customers in more than 175 countries with 10,000 employees worldwide.
In July 2012, investment firm Tsiya Group, chaired by Fani Titi, acquired a minority interest in LexisNexis® South Africa. Tsiya is a privately owned investment group that was established in 2008 and focuses on acquiring interests in unlisted businesses. The company has a particular interest in the media and information industry and is currently invested in two radio stations, namely Heart FM (which broadcasts in the Western Cape) and Gagasi FM (which broadcasts in KwaZulu Natal).
About RELX Group
RELX Group plc is a world-leading provider of information solutions for professional customers across industries. The group employs about 29,000 people of whom half are in North America. Reed Elsevier PLC is the London Stock Exchange listed vehicle for holding shares in RELX Group. Shareholders in Reed Elsevier PLC own a 52.9% economic interest in RELX Group. Reed Elsevier NV is the Amsterdam Stock Exchange listed vehicle for holding shares in RELX Group. External shareholders in Reed Elsevier NV own a 47.1% economic interest in RELX Group. The combined market capitalisation of the two parent companies is approximately £21.7bn/€30.2bn*. Its shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RUK and ENL. www.relxgroup.com
*Note: Current market capitalisation can be found at http://www.relxgroup.com/investors
About Naspers
Founded in 1915, Naspers is a leading multinational media and Internet group with operations in more than 133 countries. Listed on the Johannesburg Stock Exchange (JSE) since September 1994, it also has an ADR listing on the London Stock Exchange (LSE). The group’s principal operations are in e-commerce, pay-television & related technologies and print media. It also has minority investments in listed, integrated social-network platforms Tencent (SEHK 0700) and Mail.ru (LSE: MAIL).
Media Contacts
Larsen LockWood-Hall, Lexis Nexis
[email protected]
+27 31 268 3280
Paul Abrahams, RELX Group
[email protected]
+44 (0)20 7166 5724
Investor Relations
Colin Tennant, RELX Group
[email protected]
+44 (0)20 7166 5751
Meloy Horn, Naspers
[email protected]
+27 11 289 3320