Acquisition
Informa Group PLC
8 June 2000
INFORMA GROUP ACQUIRES BISYS RESEARCH SERVICES DIVISION
Informa Group plc announced today that through its Informa
Financial Information (IFI) subsidiary, it has acquired BISYS
Research Services Inc., a division of The BISYS Group, Inc. and one
of the USA's leading providers of financial product information.
Net liabilities of £0.9 million were acquired, mainly representing
future income paid in advance.
BISYS Research Services Inc., to be renamed Informa Research
Services Inc., is the premier provider of competitive pricing
intelligence required by financial institutions to effectively
position their products, maximize interest income and manage
interest expense.
Based in Calabasas, California, the company currently serves more
than 1,800 financial institutions, including all 25 of the USA's
top retail banks, with daily surveys of deposit, consumer, mortgage
and business loan, and indirect auto, boat and RV loan rates and
fees. It offers a wide range of reports, including customized
research, covering traditional products marketed by banks, savings
institutions, credit unions and non-bank competitors, as well as
specialty reports which track financial institutions' offerings on
the Internet. Over the past year, it has expanded its product
studies to include cash management, personal and business account
fees, sweep accounts, earnings credit and mystery shopping.
Kenneth B. Bohlin, chief executive officer of IFI, explained that
the comprehensive information collected by BISYS Research Services
will strategically supplement the banking information and analysis
currently produced by iMoneyNet Inc., another of Informa's
subsidiaries located in Westborough, Massachusetts.
'It is a win-win for BISYS Research Services and iMoneyNet clients.
BISYS Research Services clients will benefit from our exclusive
money fund data and data warehousing expertise. iMoneyNet clients
will now have access to an expanded and more comprehensive database
of financial pricing services and extensive market research
expertise.' he said:
Peter Rigby, chairman of Informa Group plc, commented: 'BISYS
Research Services is a particularly strong fit with Informa's
existing financial information business in the United States. It
gives us a strong management, staff, and facilities presence on
both the East and West Coast. The information collected by BISYS
Research Services is synergistic with our iMoneyNet business and
will present major opportunities for us to develop both our product
and customer base.
'We are delighted to welcome (President) Michael Adler and his
staff to the Informa Group. With their 17 years serving the
financial community, the acquisition continues Informa's strategy
to build a business information group delivering high value content
in our core market sectors.'
For further information:
Peter Rigby,
David Gilbertson,
Jim Wilkinson
Informa Group plc
0207 453 2222
Lydia Stewart
The Maitland Consultancy
0207 379 5151
NOTES TO EDITORS
INFORMA FINANCIAL
Informa Financial Information, Inc. ('IFI'), is a subsidiary of
London-based Informa Group plc. In addition to iMoneyNet and
Informa Research Services, IFI's business units include Effron
Enterprises Inc. (White Plains, N.Y.), which provides money manager
evaluation, performance reporting and portfolio accounting services
to pension funds, investment consultants, brokerage firms and money
managers, International Insider Publishing Co. (London, Hong Kong,
and New York, N.Y.), providers of real-time news and commentary
covering the fixed income markets for Reuters and Bloomberg
subscribers, and The Townsend & Schupp Company (Hartford, Conn.),
which provides data, statistical analysis and research pertaining
to the U.S. and Canadian insurance markets to major insurance
companies, brokerages, financial institutions and Fortune 500
companies.