Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Relx snaps up UK's pharma analysis group SciBite

Published 21/08/2020, 06:55
© Reuters.

LONDON (Reuters) - European information group Relx (L:REL) has agreed to buy Britain's SciBite, a provider of big data analytics in the pharmaceutical and healthcare industries, as part of its drive towards more digital analysis.

Relx, which has transformed from a traditional media publisher to one focusing on data and analytics across a range of industries, is paying around 65 million pounds ($86 million), a person familiar with the situation told Reuters.

The company, which has been hit during the pandemic by the suspension of corporate events, has grown organically for several years while adding some acquisitions in the area of data assets and analytics.

SciBite, founded in 2011, is based in the British science hub of Cambridge. It spots scientific insight by analysing vast quantities of text and content to help customers make decisions on R&D.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.