INFORMATION HOLDINGS ACQUIRES CDC SOLUTIONS STAMFORD, CT, December 1, 2003 - Information Holdings Inc. (NYSE: IHI) today announced that it has acquired CDC Solutions, Ltd. ("CDC"), a leading provider of regulatory publishing solutions for the life sciences industry. IHI's Liquent, Inc. subsidiary ("Liquent") has acquired CDC for initial net cash consideration of approximately $19.3 million. There is potential additional consideration dependent on future operating results of Liquent and CDC on a combined basis. IHI currently estimates that future consideration will be in a range of $4-14 million. The van Tulleken Company advised Information Holdings Inc. CDC, based in the United Kingdom, provides software and services that facilitate the preparation and submission of regulatory filings in the life sciences industry. Its products are used by leading pharmaceutical, biotechnology and medical device companies to create new drug applications, reports, proposals and technical documentation. CDC will be included in IHI's software segment and will be integrated from an operational perspective with its existing Liquent business. The Company expects that CDC will generate revenues of $12-13 million for the year ending December 31, 2003. The acquisition is expected to be accretive to IHI earnings beginning in the first quarter of 2004. During the quarter ending December 31, 2003, the Company expects to incur certain non-recurring charges related to the integration of Liquent and CDC. Additional information regarding the financial impact of the CDC acquisition will be discussed in conjunction with the Company's fourth quarter 2003 earnings announcement. Commenting on the announcement, Mason Slaine, IHI's President & CEO said, "CDC and Liquent are two primary providers of mission critical software and services related to the preparation, completion and submission of mandated regulatory life science new drug applications ("NDA's") throughout the world. Together with IDRAC, IHI's provider of regulatory data to the life science market, IHI believes it now has the most complete suite of offerings related to NDA's of any company in the world. About Information Holdings Inc.: Information Holdings Inc. (now part of The Thomson Corporation) is a leading provider of information products, software solutions and services to intellectual property, life science and IT learning markets. IHI's data segment, which includes MicroPatent®, Master Data Centerä and IDRAC, provides a broad array of databases, information products and complementary services for intellectual property and regulatory professionals. About The van Tulleken Company: The van Tulleken Company advises corporate clients on mergers and acquisitions in the publishing and information industries. With offices in London and New York, clients include some of the largest international publishing companies as well as smaller and medium-sized firms in the United States, the United Kingdom and Continental Europe.
INFORMATION HOLDINGS ACQUIRES CDC SOLUTIONS
STAMFORD, CT, December 1, 2003 - Information Holdings Inc. (NYSE: IHI) today announced that it has acquired CDC Solutions, Ltd. ("CDC"), a leading provider of regulatory publishing solutions for the life sciences industry. IHI's Liquent, Inc. subsidiary ("Liquent") has acquired CDC for initial net cash consideration of approximately $19.3 million. There is potential additional consideration dependent on future operating results of Liquent and CDC on a combined basis. IHI currently estimates that future consideration will be in a range of $4-14 million.
The van Tulleken Company advised Information Holdings Inc.
CDC, based in the United Kingdom, provides software and services that facilitate the preparation and submission of regulatory filings in the life sciences industry. Its products are used by leading pharmaceutical, biotechnology and medical device companies to create new drug applications, reports, proposals and technical documentation. CDC will be included in IHI's software segment and will be integrated from an operational perspective with its existing Liquent business. The Company expects that CDC will generate revenues of $12-13 million for the year ending December 31, 2003. The acquisition is expected to be accretive to IHI earnings beginning in the first quarter of 2004. During the quarter ending December 31, 2003, the Company expects to incur certain non-recurring charges related to the integration of Liquent and CDC. Additional information regarding the financial impact of the CDC acquisition will be discussed in conjunction with the Company's fourth quarter 2003 earnings announcement. Commenting on the announcement, Mason Slaine, IHI's President & CEO said, "CDC and Liquent are two primary providers of mission critical software and services related to the preparation, completion and submission of mandated regulatory life science new drug applications ("NDA's") throughout the world. Together with IDRAC, IHI's provider of regulatory data to the life science market, IHI believes it now has the most complete suite of offerings related to NDA's of any company in the world. About Information Holdings Inc.: Information Holdings Inc. (now part of The Thomson Corporation) is a leading provider of information products, software solutions and services to intellectual property, life science and IT learning markets. IHI's data segment, which includes MicroPatent®, Master Data Centerä and IDRAC, provides a broad array of databases, information products and complementary services for intellectual property and regulatory professionals.
About The van Tulleken Company: The van Tulleken Company advises corporate clients on mergers and acquisitions in the publishing and information industries. With offices in London and New York, clients include some of the largest international publishing companies as well as smaller and medium-sized firms in the United States, the United Kingdom and Continental Europe.
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