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[Fwd: CSA and ITI buy Bowker]

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Date: Tue, 28 Aug 2001 09:53:54 +0100
From: Barry Mahon <mahons1@EIRCOM.NET>
Subject: CSA and ITI buy Bowker
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Cambridge and Information Today acquire Bowker

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.

The directories purchased by ITI serve the library, publishing, and
bookselling markets. The titles include Literary Market Place,
International Literary Market Place, American Book Trade Directory,
American Library Directory, Annual Register of Grant Support, The Bowker
Annual Library and Book Trade Almanac, Library Resource Guide, AV Market
Place, Directory of American Research and Technology, and American Men &
Women of Science

ITI is inheriting a fully functioning editorial team that will stay in
New Providence, plus staff in a data-collection center in Tampa,
Florida, but will need to hire additional people in its Medford, New
Jersey, headquarters to handle fulfillment, marketing, and other
functions. The directories team will continue to be managed by Owen
O'Donnell in New Providence, who will report to Dick Kaser,
(ex-Executive Director of NFAIS) ITI's recently appointed vice president
of content.

Cambridge (http://www.csa.com) is a privately owned information company
located in Bethesda, Maryland, with offices in Hong Kong, France, and
the U.K.
Information Today, Inc. (http://www.infotoday.com) is a privately owned
company based in Medford, New Jersey.

According to unnamed sources, the deal encountered last minute delays
because of post-Tasini complications. One of the major selling points of
Books In Print is that it includes professionally written book reviews
from Library Journal and Publishers Weekly, supplied by Bowker's former
sister company, Cahners Business Information. When doubt was cast as to
whether Cahners would continue to provide these, Cambridge delayed the
purchase to resolve the issue. Cahners will reportedly take
responsibility for obtaining the rights and these will continue to be
included in Books In Print.

Partly sourced from Newsbreaks (www.infotoday.com/newsbreaks)


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