Why Reed Elsevier (RUK) Stock Is Gaining Today

NEW YORK (TheStreet) -- Shares of Reed Elsevier (RUK) are up 0.47% to $66.19 after it was reported that the information solutions company has offered 150 million euros ($197 million) for FircoSoft, a maker of software used by banks to weed out terrorist financing and names on sanctions watch lists, sources told Bloomberg.

Reed, which publishes trade journals and owns the LexisNexis database, is in exclusive talks to buy the business from private-equity firm Keensight Capital, it said today.

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The acquisition would be its largest in three years, according to Bloomberg sources.

FircoSoft has over 700 customers, including eight of the world's top 10 financial institutions, Reed said.

London-based Reed would combine FircoSoft with its own Accuity unit, which provides global payment routing data and anti-money-laundering tools to clients. The deal is subject to conditions including consultation with Paris-based FircoSoft's works council.

RUK Chart RUK data by YCharts

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