Anglo-Dutch publishing firm Reed Elsevier has agreed a £343 million cash deal to buy US reference data specialist Accuity.
Accuity provides online subscription-based data services for the financial services industry, focusing on payments efficiency, risk reduction and regulatory compliance.
Based in Skokie, Illinois, Accuity employees 300 staff and claims 4000 clients, including most of the world's leading financial institutions and all of the top 25 US banks.
Reed Elsevier will integrate the new acquisition with its UK Bankers' Almanac unit and share the combined data assets with another business, LexisNexis Risk Solutions.
Accuity CEO Hugh Jones will run the enlarged unit within Reed Business Information when the deal closes, which is expected to be in the fourth quarter.
Mark Kelsey, CEO, Reed Business Information, says: "Bankers' Almanac and Accuity are both strong brands with highly complementary products and strengths and excellent geographic fit. The combination of the two companies will enable us to offer customers much more comprehensive products and services to meet their developing needs."