Reed Business Information announces beginning of process to sell Reed Business Information Australia
Reed Business Information ("RBI") announced today that it is to begin a process to sell the business publishing and online lead generation businesses of Reed Business Information Australia ("RBI Australia"). The decision to sell the business reflects RBI's increasing focus on paid content models and data services. RBI's construction information data business, Cordell, is to be retained.
Jeremy Knibbs, CEO of RBI Australia, said: "The business has been transformed over the last decade, embracing the opportunities of web-based advertising services and delivering strong growth in revenues and margin. RBI has been a good parent to us and we look forward under new ownership to build on the business' success in developing profitable multi-media advertising models."
Peter De Monnink, CEO of RBI Continental Europe and Asia Pacific, said: "RBI Australia has been very successful in developing online lead generation and multi-media advertising models, with the majority of its revenues now online. This is a testament to the culture of innovation in the company and the strength of the management team. I am confident that RBI Australia will continue to thrive as a leading provider of marketing solutions to its customers."