New York-based LexisNexis said it is acquiring Intelligize Inc., a New York-based data analytics provider enabling legal, academic and business professionals to mine data and insights from SEC filings. The deal is subject to customary closing conditions.
Intelligize was founded in 2007 by Gurinder Sangha, a serial entrepreneur, attorney and academic. The startup previously raised over $3.6 million in three funding rounds, one of which was led by REV, formerly known as Reed Elsevier Ventures, the venture capital arm of RELX Group, the parent of LexisNexis.
REV’s founding partners, Kevin Brown and Tony Askew, are directors of Intelligize since 2009. Hans Gieskes, chairman of AXIO data, former chairman, president and CEO of Houghton Mifflin (2002-2003), former president and CEO of LexisNexis (1997-2000), former deputy chairman of Reed Elsevier Legal Publishing (1996-1997), and former senior executive of Elsevier (1979-1996), is also a director of Intelligize since 2008. Other Intelligize board members and investors include Howard Morgan, co-founder and partner of First Round Capital, and David Mars, partner at White Owl Capital.
Intelligize delivers documents and data analytics by leveraging advanced natural language processing and machine learning technology applied to vast data contained within SEC and other related databases. The company’s customers include top US law firms, Fortune 500 companies, global accounting firms, universities and government agencies.
The acquisition is expected to expand the LexisNexis securities and M&A offering with new content, innovative tools and analytics, while complementing the capabilities of the company’s existing securities solution, Lexis Securities Mosaic, its internally developed predictive analytics solution Legislative Outlook, new data visualization tools in Lexis Advance. and its acquisition of Lex Machina.
“The combination of Intelligize and Lexis Securities Mosaic would mean we could offer customers an attractive set of securities content and analytics tools to help them quickly, confidently and effectively understand the securities environment and manage filings,” said Sean Fitzpatrick, managing director of North American Research Solutions at LexisNexis.
“By joining LexisNexis, we will take the next step by tapping into the global resources, expertise and technology platform needed to rapidly expand our products and offer customers more options, more insights and more tools to help them manage their transactional matters,” said Todd Hicks, CEO of Intelligize.
LexisNexis, which originally pioneered online information with its Lexis and Nexis services, is a leading global provider of content and technology solutions for professionals in legal, corporate, tax, government, academic and non-profit organizations. The company serves customers in more than 175 countries with 10,000 employees worldwide, and is part of RELX Group, a world-leading provider of information and analytics for professional and business customers across industries.
RELX Group (LSE: REL; Euronext: REN; NYSE: RELX; NYSE: RENX), formerly known as Reed Elsevier between 1992 and February 2015, serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom half are in North America.
RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges. The group’s market capitalization, as at September 21, 2016, was £28.9bn / €33.6bn / $37.5bn.