Anglo-Dutch publishing company Reed Elsevier has agreed to buy US group Accuity Holdings for £343m in cash, the company announced on Monday.

‘By combining the assets of Accuity with Bankers’ Almanac and LexisNexis Risk Solutions, we will be able to provide new solutions to our customers that are unprecedented,’ said Accuity president and chief executive Hugh Jones in a statement.
Illinois-based Accuity provides online subscription-based services for banks and financial institutions.
Reed Elsevier declined to disclose financial details but analysts told the Financial Times they estimate the multiple of enterprise value to earnings before interest, tax and amortisation is likely to be in the low-to-mid teens.
The acquisition follows Reed Elsevier’s attempts to recover from the financial crisis. The company said in July it is on course to increase profits this year.
Reed Elsevier shares rose 5.8% to £492.4 on the news.