REN RELX Plc

By Adria Calatayud

RELX PLC's Elsevier, the world's largest publisher of academic journals, said Friday that it has bought SciBite, a U.K.-based artificial-intelligence analytics company that helps customers identify and extract scientific insights from content.

Financial terms of the acquisition weren't disclosed, but sources close to the deal said the price was about 65 million pounds ($85.9 million).

Elsevier, which houses scientific journals including the Lancet and Cell, said the deal will help its life-sciences solutions division, which is transforming itself into a creator of data-and-information analytics from a provider of reference solutions.

SciBite was founded in 2011 by Lee Harland, who currently serves as chief scientific officer, and is headquartered in Cambridge, U.K., with sites in the U.S. and Japan.

For Elsevier parent RELX, this is the eighth acquisition of the year. RELX said at its half-year report that it had made seven acquisitions worth about GBP720 million, including U.S. deals such as Emailage and ID Analytics.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

August 21, 2020 03:05 ET (07:05 GMT)

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