RELX plc (pronounced "Rel-ex") is a British corporate group comprising companies that publish scientific, technical and medical material, and legal textbooks; provide decision-making tools; and organise exhibitions. It operates in 40 countries and serves customers in over 180 nations. It was previously known as Reed Elsevier, and came into being in 1992 as a result of the merger of Reed International, a British trade book and magazine publisher, and Elsevier, a Netherlands-based scientific publisher.
|Public limited company|
|Industry||Information and Analytics|
|Headquarters||London, United Kingdom|
|Products||Information and data analytics, academic and business publishing, exhibitions|
Number of employees
The company is publicly listed, with shares traded on the London Stock Exchange, Amsterdam Stock Exchange and New York Stock Exchange (ticker symbols: London: REL, Amsterdam: REN, New York: RELX). About 55 per cent of the company's revenues are generated from the US, with 23 per cent from Europe and 22 per cent from the rest of the world. The company is one of the constituents of the FTSE 100 Index, Financial Times Global 500 and Euronext 100 Index.
The company, which was previously known as Reed Elsevier, came into being in 1992, as a result of the merger of Reed International, a British trade book and magazine publisher, and Elsevier, a Netherlands-based scientific publisher. The company re-branded itself as RELX in February 2015.
In 1965 Reed Group, as it was then known, became a conglomerate, creating its Decorative Products Division with the purchase of Crown Paints, Polycell and Sanderson's wallpaper and DIY decorating interests.
In 1970, Reed Group merged with the International Publishing Corporation and the company name was changed to Reed International Limited. The company continued to grow by merging with other publishers and produced high quality trade journals as IPC Business Press Ltd and women's and other consumer magazines as IPC magazines Ltd. The original family owners, the Reeds, were Methodists and encouraged good working conditions for their staff in the then-dangerous print trade.
In 1985 the company decided to rationalise its operations, focusing on publishing and selling off its other interests. Sanderson was sold to WestPoint Pepperell, Inc. of Georgia, United States, that year, while Crown Paint and Polycell were sold to Williams Holdings in 1987. The company's paper and packaging production operations were bundled together to form Reedpack and sold to private equity firm Cinven in 1988.
In 1880, Jacobus George Robbers started a publishing company called NV Uitgeversmaatschappij Elsevier (Elsevier Publishing Company NV) to publish literary classics and the encyclopedia Winkler Prins. Robbers named the company after the old Dutch printers family Elzevir, which, for example, published the works of Erasmus in 1587. Elsevier NV originally was based in Rotterdam but moved to Amsterdam in the late 1880s.
Up to the 1930s, Elsevier remained a small family-owned publisher, with no more than ten employees. After the war it launched the weekly Elsevier magazine, which turned out to be very profitable. A rapid expansion followed. Elsevier Press Inc. started in 1951 in Houston, Texas, USA, and in 1962 publishing offices were opened in London and New York. Multiple mergers in the 1970s led to name changes, settling at "Elsevier Scientific Publishers" in 1979. In 1991, two years before the merger with Reed, Elsevier acquired Pergamon Press in the UK.
Reed Elsevier and RELX
|Company or division/subsidiary||Date||Acquisition||Value|
|Reed Elsevier||1993-08||Official Airline Guides Inc, a publisher of airline schedules||$425 million|
|Reed Elsevier||1994-10||LexisNexis, an on-line information business||$1.5 billion|
|Reed Elsevier||1997-03||MDL Information Systems Inc, a US software systems and information database developer||$320M|
|Reed Elsevier||1997-06||Chilton Business Group, a US business information publishing company||$447M|
|Reed Elsevier||1998-04||Matthew Bender & Company Inc, a US publisher of legal information||$1.65bn|
|Reed Elsevier||2000-10||Harcourt, an education publishing business||$4.5bn plus debt|
|LexisNexis||2004-07||Seisint of Boca Raton, Florida, which provided the company with access to HPCC Systems for the first time||$775M|
|Reed Elsevier||2005-05||Medimedia, a medical publisher whose imprints included Medicine Publishing and Masson||$270M|
|Reed Elsevier||2008-02||Choicepoint, which had been a spinoff of Equifax's Insurance Services Group in August 1997. The acquisition was completed in September 2008.||$4.1bn|
|Reed Business Information||2011-06||Ascend, a London-based civil aviation data analytics company||Undisclosed|
|Reed Elsevier||2011-11||US online-data business Accuity Holdings Inc. from investment firm Investcorp||£343M ($530.1M)|
|LexisNexis Legal & Professional||2012-03||Law360, a US-based online provider of legal information and analysis||Undisclosed|
|Elsevier||2013-04||Mendeley, a London-based desktop and web program for managing and sharing research papers, discovering research data and collaborating online||Undisclosed but up to $100M|
|LexisNexis Risk Solutions||2013-09||Mapflow, a Dublin-based group that helps insurance companies assess geographic risk, in particular in relation to flooding||Undisclosed|
|LexisNexis Risk Solutions||2014-04||Tracesmart, a UK-based provider of tracing, identity verification, fraud prevention and anti-money laundering software||Undisclosed|
|LexisNexis Risk Solutions||2014-05||Wunelli, a telematics data business which uses driving data for insurers, enabling them to reduce risk exposure and deliver discounts to safer drivers||£25m|
|Accuity||2014-09||Fircosoft, a Paris-based anti-money laundering company||€150M|
|LexisNexis Risk Solutions||2014-11||Health Market Science (HMS), a supplier of high quality data about US healthcare professionals||Undisclosed|
|LexisNexis Risk Solutions||2015-01||BAIR Analytics, a US-based law enforcement data company||Undisclosed|
|LexisNexis Legal & Professional||2015-07||MLex, a media organization providing exclusive analysis and commentary on regulatory risk||Undisclosed|
|Reed Business Information||2015-10||Adaptris, a fast-growing supply chain integration business||Undisclosed|
|LexisNexis Legal & Professional||2015-11||Lex Machina, a US-based online provider of legal analytics||Undisclosed|
|LexisNexis Risk Solutions||2016-07||Insurance Initiatives, Ltd. (IIL), a business which provides a data distribution platform that extracts, hosts and processes large quantities of data to deliver information predominantly into the point-of-quote in the UK's Property & Casualty Insurance industry.||Undisclosed|
|LexisNexis Legal & Professional||2017-06||Ravel Law, a San Francisco-based legal analytics company||Undisclosed|
|LexisNexis Risk Solutions||2018-01||ThreatMetrix, one of the largest repositories of online digital identities in the world||£580M ($830M)|
|Reed Exhibitions||2018-02||The Gamer Network of video game journalism websites||Undisclosed|
In February 1997, Reed Elsevier divested its trade publishing group (including Heinemann, Methuen, Secker & Warburg, Sinclair-Stevenson, Mandarin, Minerva and Cedar) to Random House. In 1998, Reed Elsevier sold the children's divisions of Heinemann, Methuen, Hamlyn and Mammoth to the Egmont Group.
In February 2007, the company announced its intention to sell Harcourt, its educational publishing division. On 4 May 2007 Pearson, the international education and information company, announced that it had agreed to acquire Harcourt Assessment and Harcourt Education International from Reed Elsevier for $950m in cash. In July 2007, Reed Elsevier announced its agreement to sell the remaining Harcourt Education business, including international imprint Heinemann, to Houghton Mifflin for $4 billion in cash and stock.
In July 2009, Reed Elsevier announced its intention to sell most of its North American trade publications, including Publishers Weekly, Broadcasting & Cable, and Multichannel News, although it planned to retain Variety.
In April 2010, Reed Elsevier announced that it had sold 21 US magazines to other owners in recent months, and that an additional 23 US trade magazines, including Restaurants & Institutions, Hotels, and Trade Show Week would cease publication. The closures were mostly due to the weak economy including an advertising slump.
In 2014, Reed Business Information sold BuyerZone, an online marketplace; emedia, an American provider of research for IT buyers and vendors; and a majority stake in Reed Construction Data, a provider of construction data.
In 2017 the company sold New Scientist magazine.
Operations and market segments
Scientific, Technical & Medical
RELX's Scientific, Technical & Medical business provides information, analytics and tools that help investors make decisions that improve scientific and healthcare outcomes. It operates under the name of Elsevier and generated revenues in the year to 31 December 2017 of £2.5 billion.
ScienceDirect, an online database of primary research, contains 13 million documents.
Scopus is a bibliographic database containing abstracts and citations for academic journal articles. It contains more than 50 million items in more 20,000 titles from 5,000 publishers worldwide.
Mendeley is a desktop and web program for managing and sharing research papers, discovering research data and collaborating online.
Elsevier is the world's largest publisher of academic articles, with 16 per cent market share, according to the Financial Times. It publishes 420,000 articles a year in about 2,500 journals. Its best-known titles are The Lancet and Cell. In 1995, Forbes magazine (wrongly) predicted Elsevier would be "the first victim of the internet" as it was disrupted and disintermediated by the World Wide Web.
Risk & Business Analytics
Accuity provides financial crime compliance software which allows institutions to comply with sanctions and anti-money laundering compliance programmes. It offers KYC, online subscription-based data and software for the financial services industry. The company's services include helping banks and financial institutions screen for high risk customers and transactions, and providing databases such as Bankers Almanac which allows clients to find and validate bank payment routing data. Accuity serves financial services clients worldwide.
RELX's legal business operates under the LexisNexis brand. Many of LexisNexis' brands date back to the nineteenth century or earlier. These include Butterworths and Tolley in the UK and JurisClasseur in France.
RELX's exhibitions business is called Reed Exhibitions. It is the world's largest exhibitions company, running 500 shows for 140,000 exhibitors and 7m visitors.
The Elsevier Foundation supports libraries in developing countries, women scientists and nursing facilities. In 2016 it committed $1m a year, for 3 years, to programmes encouraging diversity in science, technology and medicine and promoting science research in developing countries.
Programmes operated by LexisNexis Legal & Professional include:
- With the Atlantic Council, launching the first draft of the Global Rule of Law Business Principles which will help businesses, law firms and NGOs promote and uphold the rule of law.
- With the International Bar Association, launching an application called eyeWitness to Atrocities, designed to capture GPS coordinates, date and time stamps, sensory and movement data, and the location of nearby objects such as Wi-Fi networks. The technology also creates a secure chain of custody to help verify that the images and video has not been edited or digitally manipulated. The goal is to create content that can be used in a court of law to prosecute perpetrators of atrocities and human rights abuses.
Programmes operated by LexisNexis Risk Solutions include:
- The ADAM (Automated Delivery of Alerts on Missing Children) programme in the US, developed by employees in 2000, which assists in the recovery of missing children through a system of targeted alerts. As of 2017 the programme has helped trace 177 missing children.
- Social Media Monitor, which assists law enforcement officials in investigating serious crimes such as drug dealing and human trafficking.
Reed Elsevier has been criticised for the high prices of its journals and services, especially those published by Elsevier. It has also supported SOPA, PIPA and the Research Works Act, although it no longer supports the last. Because of this, members of the scientific community have boycotted Elsevier journals. In January 2012, the boycott gained an online pledge and petition (The Cost of Knowledge) initiated by mathematician and Fields medalist Sir Timothy Gowers. The movement has received support from noted science bloggers, such as biologist Jonathan Eisen. Between 2012 and November 2015, about 15,391 scientists signed The Cost of Knowledge boycott. In 2016, Elsevier received 1.5 million article submissions.
2019 UC system negotiations
On 28 February 2019 following long negotiations, the University of California announced it would be terminating all subscriptions with Elsevier.
As a data broker Reed Elsevier collected, used, and sold data on millions of consumers. In 2005, a security breach occurred through a recently purchased subsidiary, Seisint, which allowed identity thieves to steal the records of at least 316,000 people. The database contained names, current and prior addresses, dates of birth, drivers license numbers and Social Security numbers, among other data obtained from credit reporting agencies and other sources. In 2008 the company settled an action taken against it by the Federal Trade Commission for multiple failures of security practice in how the data was stored and protected. The settlement required Reed Elsevier and Seisint to establish and maintain a comprehensive security program to protect nonpublic personal information.
Between 2005 and 2007, members of the medical and scientific communities, which purchase and use many journals published by Reed Elsevier, agitated for the company to cut its links to the arms trade. Two UK academics, Tom Stafford of Sheffield University and Nick Gill, launched petitions calling for it to stop organising arms fairs. A subsidiary, Spearhead, organised defence shows, including an event where it was reported that cluster bombs and extremely powerful riot control equipment were offered for sale. In February 2007 Richard Smith, former editor of the British Medical Journal, published an editorial in the Journal of the Royal Society of Medicine arguing that Reed Elsevier's involvement in both the arms trade and medical publishing constituted a conflict of interest. Subsequently, in June the company announced that they would be exiting the defence exhibition business during the second half of the year.
- "Preliminary Results 2018" (PDF). RELX. Retrieved 10 March 2019.
- "Business Overview". RELX. Retrieved 10 March 2019.
- "US SEC: Form 20-F Relx Group". U.S. Securities and Exchange Commission. Retrieved 20 June 2018.
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- "All investments". Cinven. Retrieved 21 March 2015.
- "Maxwell Selling Pergamon, Cornerstone of His Empire". New York Times. 29 March 1991. Retrieved 18 September 2015.
- Stanley Ziemba (19 August 1993). "British Firm Near Deal To Acquire Airline Guides". Chicago Tribune. Retrieved 18 September 2015.
- "Publisher Reed Elsevier Agrees to Buy Lexis/Nexis On-Line Business". Los Angeles Times. 5 October 1994. Retrieved 18 September 2015.
- "Reed Elsevier Agrees to Buy Information Systems Company". New York Times. 25 March 1997. Retrieved 18 September 2015.
- "Reed Elsevier buys Chilton from ABC for US$447 million in June 1997". Wall Street Journal. 23 June 1997. Retrieved 18 September 2015.
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- "LexisNexis To Buy Seisint For $775 Million". Washington Post. 15 July 2004. Retrieved 18 September 2015.
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- "Acquisition of ChoicePoint Inc. completed". 21 February 2008. Retrieved 7 March 2016.
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- Reed Business Information Ltd and Ascend Worldwide Group Holdings Limited (30 June 2011). "Reed Business Information Acquires Ascend, a Leading Provider of Data, Analytics and... -- SUTTON, England, June 30, 2011 /PRNewswire/ --". prnewswire.com. Retrieved 23 September 2015.
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- "LexisNexis Acquires Law360". LexisNexis. 20 March 2012. Retrieved 19 September 2019.
- "Reed Elsevier buys academic social network Mendeley for up to £65m". The Guardian. 9 April 2013. Retrieved 18 September 2015.
- "LexisNexis® Risk Solutions Acquires Mapflow". RELX. 16 September 2013. Retrieved 19 September 2019.
- "Tracesmart® is now a LexisNexis® company". LexisNexis Risk Solutions. Retrieved 19 September 2019.
- "Reed Elsevier buys Wunelli to beef up Telematics business". City A.M. 21 May 2014. Retrieved 18 September 2015.
- Robert Cookson (29 September 2014). "Reed Elsevier to buy sanctions software group FircoSoft for €150m". Financial Times. Retrieved 23 September 2015.
- Adam Rubenfire (13 November 2014). "LexisNexis to acquire Health Market Science". Modern Healthcare. Retrieved 18 September 2015.
- "LexisNexis to buy BAIR Analytics, grow in public safety sector". Atlanta Business Chronicle. 6 January 2015. Retrieved 23 September 2015.
- "LexisNexis buys regulatory news wire MLex". Talking Biznews. 29 July 2015. Retrieved 22 March 2016.
- Wright, Martin (29 October 2015). "RBI acquires software and e-solutions company Adaptris Group Limited". Media Mergers. Retrieved 27 October 2015.
- "LexisNexis Acquires Premier Legal Analytics® Provider Lex Machina". PRWEB. Retrieved 25 November 2015.
- "LexisNexis Risk Solutions Acquires Insurance Initiatives Ltd". LexisNexis Risk Solutions. 20 July 2016. Retrieved 19 September 2019.
- Loizos, Connie. "Venture-backed Ravel Law sells to LexisNexis | TechCrunch". Retrieved 13 June 2017.
- "Britain's Relx to pay 580 million pounds for digital identity group ThreatMetrix". Retrieved 29 January 2018.
- Welsh, Oli. "Eurogamer's parent company Gamer Network has been bought by PAX operator ReedPOP •". Eurogamer.net. Retrieved 26 February 2018.
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- "Pearson acquires Harcourt Assessment and Harcourt Education International from Reed Elsevier". Pearson. Archived from the original on 27 September 2011. Retrieved 16 July 2011.
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- Brian Stelter, "Even Media About the Media Are For Sale, New York Times, 31 July 2009.
- Lorene Yue, "Restaurants & Institutions magazine shutting down as Reed cuts trade titles", Crain's Chicago Business, 16 April 2010.
- "Jay Penske Buys Variety Magazine From Reed Elsevier". Advertising Age. 9 October 2012. Retrieved 15 September 2015.
- InPublishing. "News: RBI sells BuyerZone: InPublishing". inpublishing.co.uk. Retrieved 23 September 2015.
- Martin Wright (20 August 2013). "Ziff Davis Acquires emedia from RBI". MediaMergers. Retrieved 23 September 2015.
- "BRIEF-Reed sells majority stake in Reed Construction Data to Warburg Pincus". Reuters. Retrieved 23 September 2015.
- "Reed Business divests Elsevier Weekly and BeleggersBelangen to New Skool Media". De Brauw. Retrieved 21 March 2017.
- "Relx offloads New Scientist magazine to Kingston Acquisitions". FT. 12 April 2017. Retrieved 20 April 2017.
- "ScienceDirect". Davenport University. Retrieved 21 September 2015.
- "The dimensions of Scopus". Bayerische Staats Bibliothek. Retrieved 21 September 2015.
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- "RELX move into risk helps deliver record revenues". Financial Times. Retrieved 7 April 2016.
- Kate Santich. "Florida welfare fraud: Florida welfare fraud cost taxpayers $1 billion in 2012". Orlando Sentinel. Retrieved 23 September 2015.
- Vasagar, Jeevan; Lockett, Hudson (30 May 2017). "Singapore penalises Credit Suisse over 1MDB". Financial Times. Retrieved 24 September 2018.
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- Cutter, Henry (6 December 2017). "The Morning Risk Report: EU's Tax Blacklist May Force Compliance Changes". Wall Street Journal. Retrieved 24 September 2018.
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- Jonathan Guthrie (28 February 2013). "EU left strikes a blow for top bankers". Financial Times. Retrieved 23 September 2015.
- Jonathan Guthrie. "ICAP case gives enemies of the City a crate of free ammo". Financial Times. Retrieved 23 September 2015.
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- "Elsevier Foundation commits $1m to diversity in science". The Bookseller. 2 February 2016. Retrieved 4 February 2016.
- "UN Global Compact to Adopt "Global Rule of Law Business Principles"". Atlantic Council. 20 September 2013. Retrieved 23 September 2015.
- "EyeWitness app lets smartphones report war crimes". BBC News. Retrieved 23 September 2015.
- "Four Recently Recovered Missing Children Make 99 recoveries for ChoicePoint(R)'s ADAM Program". Wistv. 29 January 2015. Retrieved 23 September 2015.
- "Product Shoot-Out: The Top 4 Social Media Monitoring Apps for LEAs". Insider Surveillance. 14 July 2014. Retrieved 23 September 2015.
- Dobbs, David (30 January 2012). "Testify: The Open Science Movement Catches Fire". Wired. Retrieved 2 February 2012.
- Jop de Vrieze (1 February 2012). "Thousands of Scientists Vow to Boycott Elsevier". Science Magazine. Retrieved 2 February 2012.
- "Annual Report 2016" (PDF). RELX. Retrieved 27 February 2018.
- UC Office of the President (28 February 2019). "UC terminates subscriptions with world's largest scientific publisher in push for open access to publicly funded research".
- "A Review of the Data Broker Industry: Collection, Use, and Sale of Consumer Data for Marketing Purposes". US Senate. Retrieved 21 March 2015.
- "Agency Announces Settlement of Separate Actions Against Retailer TJX, and Data Brokers Reed Elsevier and Seisint for Failing to Provide Adequate Security for Consumers Data". Federal Trade Commission. 27 March 2008. Retrieved 21 March 2015.
- "Elsevier petition". idiolect.org.uk. Retrieved 21 March 2015.
- Shah, Saeed (14 September 2005). "Cluster bombs on offer at arms fair despite sales ban". The Independent. UK. Retrieved 21 February 2007.
- Norton-Taylor, Richard (16 September 2005). "Banned stun guns and leg irons advertised at arms fair". The Guardian. UK. Retrieved 21 February 2007.
- Smith, Richard (20 February 2007). "Lancet publishers condemned over promotion of arms". Journal of the Royal Society of Medicine. Retrieved 18 March 2007.
- "Reed Elsevier says to exit defence industry shows". Reuters. 1 June 2007. Retrieved 18 September 2015.
- "LAWYERS AND SCHOLARS TO LEXISNEXIS, THOMSON REUTERS: STOP HELPING ICE DEPORT PEOPLE".
- Guardian Unlimited, Bad Science by Ben Goldacre about Open Access and DSEI arms trade
- ketupa.net media profile: Reed Elsevier historical overview
- Double Dutch No Longer in-depth article about the company from 2002 (Forbes.com)
- Duncan Palmer Becomes Reed Elsevier CFO Online article about the new CFO of Reed Elsevier, Accessed 09/17/2012
- Business data for RELX PLC:
- Business data for RELX NV: