R.R. Donnelley Acquires EDGAR Online for $70.5 Million
The property will be tucked into Donnelley's financial services group.
R.R. Donnelley has been on a buying spree, most recently picking up financial data, analytics and disclosure firm EDGAR Online. The total deal is valued at $70.5 million, with reports noting about $31 million of that is assumption of debt and other liabilities.
R.R. Donnelley, primarily a printer, has in the last few years been aggressively buying its way into other services in an effort to diversify its revenue sources. The company has a history with EDGAR going back to 2008. EDGAR has been providing Donnelley with eXtensible Business Reporting Language (XBRL) services for its financial services operation.
"This is a natural fit with our growing portfolio of financial disclosure management services and a superb match for our clients' needs for end-to-end solutions," says R.R. Donnelley Financial Services president Tom Juhase in a statement. "Our long working relationship with EDGAR Online gives us immense confidence in their platform, people and processes. They will bring best in class technology and deep domain expertise in XBRLâ€”and area of vital importance to our clients."
In April R.R. Donnelley invested $2.5 million in CofeeTable, a shopping app that allows tablet users to browse and purchase from multiple retailersâ€™ catalogs directly within an application.
In 2011, the company also bought LibreDigital and paid content platform Journalism Online.
The EDGAR deal is expected to be accretive to earnings in the first full year after closing, which is expected to happen in the third quarter of 2012.
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