Reed Elsevier buys Accuity payments

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Anglo-Dutch publishing giant Reed Elsevier said Monday it had agreed to buy US payments software company Accuity for £343 million (394 million euros, $532 million) in cash.

Reed Elsevier said in a statement "that it has entered into a definitive agreement to acquire the entire issued share capital of Accuity Holdings Inc. from Investcorp, for a consideration of £343m payable in cash."

Created 175 years ago, Accuity employs 300 people and provides data, software and services that allow companies and their banks to organise payments.

Reed Elsevier primarily publishes scientific, medical and legal data geared for professionals and employs 30,000 people globally.

© 2011 AFP

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