LexisNexis Acquires Interface CRM Software
LexisNexis has acquired Oak Brook, IL-based Interface Software, Inc., the leading provider of client relationship management (CRM) products to professional services firms in the US, UK and Australia.
Reed Elsevier, parent company of LexisNexis, will acquire all outstanding shares of the privately held Interface Software. Current officers, management team and employees of Interface Software will remain at the Oak Brook, Illinois location. Terms of the agreement are not disclosed, but clearly some owners of Interface stock are now millionaires.
"This acquisition reinforces our ongoing commitment to provide law firms and other professional services organizations, with a complete portfolio of products and services that help them manage their businesses for growth and a better return on investment," said Lou Andreozzi, chief executive officer and president, LexisNexis North American Legal Markets.
"Customers will be the ultimate beneficiaries of this deal," said Nathan Fineberg, chief executive officer and president of Interface Software. "By combining the relationship intelligence capabilities of our market-leading CRM platform, InterAction®, with superb content from LexisNexis, we can deliver the types of client development solutions that firms need to drive revenues, enhance client service and differentiate themselves from the competition."
Combination of major businesses
LexisNexis® does business in 100 countries with 13,000 employees worldwide. In addition to its Web-based Lexis and Nexis research services, the company includes legal publishers such as Martindale-Hubbell, Matthew Bender, Butterworths, Les Editions du JurisClasseur, Abeledo-Perrot and Orac. See www.lexisnexis.com.
Interface Software's InterAction provides the relationship intelligence that law firms use to strengthen and leverage client relationships, manage matters effectively and enhance marketing activities. More than 70 percent of the largest law firms in the U.S. (the "AmLaw 100") and 38 percent of the United Kingdom top 50 law firms rely on InterAction. Interface Software has enjoyed consistent growth since the launch of InterAction in 1996. The company has been profitable since 2002.
Interface Software has received numerous accolades, including the Inc 500, the Deloitte & Touche Technology Fast 50 for Greater Chicagoland, the Deloitte & Touche Technology Fast 500 and the Upside Hot 100. For more information please visit Interface Software's Web site at, http://www.interfacesoftware.com.
"The InterAction CRM platform is another important step in the LexisNexis strategy to provide its customers with products that go beyond our comprehensive Total Research System," said Andreozzi. Lexis Nexis has also acquired Time Matters and Billing Matters workflow software and the Applied Discovery ® Web-based electronic discovery services.
The acquisition brings two strong brands together to supply the premium products and services critical to the success of other professional service firms. As a leading global provider of original and aggregated content, LexisNexis delivers a diverse spectrum of corporate intelligence from more than 24,000 news and business sources. Interface Software has achieved significant traction in the consulting, venture capital, private equity, investment banking, accounting and other professional service vertical markets.
