We know a lot of our UK readers are trapped at home today – thanks to a pretty-much network-wide rail shutdown in the South, East and West of England – so here is a quick round-up of all that is happening…
• We have two legal software vendors in the British Isles (note geographic definition) with information memorandum teasers out from their financial advisers putting out feelers for people who might like to buy their businesses.
• We have another long established legal products and services provider that, after breaching its banking covenants earlier this year, is looking to sell off one of its divisions.
• And we have another software player that seems to be (if the number of CVs floating around is anything to go by) running down its UK legal sales operations so it can focus on its activities in the health sector.
• Moore Blatch has emerged as the firm that advised Liberata on its recent acquistion of Trinity Expert Systems (see last week’s Insider)
• According to The Bookseller, LexisNexis is in consultation over cutting 12 publishing jobs at its UK operations and outsourcing them to the Philippines. LexisNexis have refused to confirm the consultation.
• Finally – and yes we have saved the best until last – Decision Insight Information Group (Europe) (DIIGE), the UK and Ireland’s leading property searches group, has announced that its entire share capital has been acquired by Daily Mail Group Information (dmgi) from Decision Insight Information Group (DIIG), a portfolio company of the US private equity firm TPG Capital.
DIIGE primarily delivers residential and commercial property search results to legal professionals, and is based in Kent with additional offices in Edinburgh, Scotland and Dublin, Ireland. DIIGE businesses comprise SearchFlow Limited (England & Wales, Millar & Bryce Limited (Scotland), Rochford Brady Legal Services Limited (Ireland), Decision Insight Hub Limited (also known as NLIS Hub) and Decision First Limited. The deal does not include xit2, DIIGE’s property risk management business, which remains under the direct ownership of DIIG.
The acquisition is described as being complementary to dmgi’s existing businesses in the property sphere and is consistent with dmgi’s strategy of adding products and services to enhance its overall offering. Suresh Kavan, CEO of dmgi, said “Acquiring this group of outstanding companies will greatly increase our strategic reach at a time of great opportunity in the property information industry. We are delighted to welcome them to our portfolio of companies.”
COMMENT: Yes, you read it right. From Kim Kardashian to canny conveyancing. The same company that owns the Daily Mail newspaper, now owns the SearchFlow and related property search businesses.