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December 15, 2004

LexisNexis buys Interface Software

Interface Software Inc, a privately owned provider of client relationship management software for the professional services sector, has been acquired by professional services content provider LexisNexis.

By CBR Staff Writer

A division of Reed Elsevier Inc, LexisNexis provides content in the form of legal, news, and business information services plus tax and regulatory publications, primarily to law firms. It aggregates corporate intelligence from more than 24,000 news and business sources.

Interface Software specializes in providing professional services organizations with a form of CRM that focuses on the management of client intelligence. This includes understanding who the client knows, their position in a wider business network, and the type and style of interaction engaged in, on the grounds that client information is the most valuable asset in a professional services firm. It has clients in the consulting, venture capital, private equity, investment banking, accounting, and other professional service vertical markets.

Financial terms were not revealed but Reed Elsevier will acquire all outstanding shares of privately held Interface Software. The existing executives, management team, and employees will be kept on, and Interface Software will continue to operate from its Oak Brook, Illinois base. The company launched its first application, InterAction, in 1996, and said it has been profitable since 2002.

Interface maintains that more than 70% of the largest law firms in the US and 38% of the UK’s top 50 law firms use Interface Software’s InterAction.

This is the latest in a stream of acquisitions by LexisNexis and follows its acquisition of Time Matters and Billing Matters workflow software and the Applied Discovery web-based electronic discovery services.

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