Prenax has acquired the subscription management operations of LM Information Delivery ("LM"), based in Finland and one of its US subsidiaries ("LM Inc."). This deal with the management team of Prenax, which is re-investing substantially with the support of Andera Partners and LBO France, will make it the leading independent European company in the sector.
Prenax, a business process outsourcing company founded in 1993, serves its customers – mainly large companies, but also government and university stakeholders – by taking charge of the subscription's entire lifecycle, from order intake and processing all the way to billing, via its owner extranet. With operations in France, United States, United Kingdom, Australia, and all four Scandinavian countries, Prenax has finalised 10 acquisitions since 2007 and generates nearly €140 million in business volume.
This consolidation deal makes Prenax the European leader in the procurement of information sources for corporate, government and academic customers. The two companies are very well-matched geographically, especially in Spain, Belgium, and the Netherlands and will harness many synergies. Further external growth operations with local players are planned, including one in Australia that will be wrapped up by the end of the year.
Jérôme Conquet, President and CEO of Prenax, adds, “We want to be able to rely on a leading partner to continue our development strategy while preserving the group's culture and independence. With LBO France's expertise, we can boost our geographical development through external growth while drawing on their operational performance team during this major integration of LM.”
“The merger of Prenax and LM is a unique opportunity to build a leading group in Europe,” notes Jussi Kettunen, Managing Director of LM Information Delivery. “This will open up real opportunities for our customers and all of our employees.”
Prenax started life in Sweden in 1993, and has expanded through organic growth, acquisitions and partnerships to become the world's largest corporate subscription management partner. Operating from the USA, through Europe to Asia-Pacific, it serves financial and legal services, advanced engineering, consulting, medical libraries, pharma and local governments. From its local offices in eight countries worldwide, Prenax simplifies and centralises the information resources procurement process. It manages and consolidates subscriptions and memberships through a single supplier to ensure customers benefit from lower costs, better visibility and control.
About LM Information Delivery
Established in 1972, LM Information Delivery is a leading international subscription and information management service provider. The company has local offices in 10 countries worldwide and serves customers across the globe. Customers include academic and research libraries, municipalities, public libraries and corporate business across many sectors. Services improve efficiency, save time in information retrieval and improve the use of e-resources. The cornerstone of the business is providing excellent and bespoke customer service by liaising with publishers and libraries to reduce workloads and to maximise budgets. Services include subscription Management Services, eBook Services, eResource Access and Management Services and Database Services.
Prenax and LM Information Delivery press contacts
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