Information Today
Volume17, Number 4 • April 2000
RoweCom and NewsEdge End Acquisition Agreement

RoweCom, Inc. and NewsEdge Corp. have announced that they have agreed by mutual consent to terminate their acquisition agreement. Under the agreement, which was announced on December 7, 1999, RoweCom would have acquired NewsEdge Corp. in a stock transaction. The companies have chosen instead to move forward with a partnership that will enable the services of both companies to be integrated in ways that benefit their customers.

RoweCom intends to offer NewsEdge services to its clients to provide timely and customized business, technical, and political news from hundreds of sources contextually organized into NewsEdge Review topics. Similarly, links embedded within NewsEdge stories would provide access to related kStore offerings from over 200,000 magazines and journals; 5,300 electronic journals; 4,000 market research reports and 12 million article abstracts and citations from RoweCom’s catalog; and millions of books via RoweCom partners barnesandnoble.com and Books24x7.com.

The partnership is expected to financially benefit RoweCom and NewsEdge in two ways. First, by making both companies’ services available to one another’s client base, RoweCom and NewsEdge can tap new distribution channels, expanding their respective potential user bases. Second, the addition of new services is expected to increase purchasing among existing clients with little incremental cost to the companies.

RoweCom, Inc. develops and operates Web-based services that enable organizations to manage the acquisition of knowledge resources such as magazines, newspapers, journals, and books. RoweCom’s flagship services, Knowledge Store (kStore) and Knowledge Library (kLibrary), allow organizations to order, pay for, and manage over 200,000 titles online as well as millions of discounted books via RoweCom partner barnesandnoble.com.

With clients ranging from Fortune 1000 companies to academic libraries, RoweCom serves organizations with intensive knowledge requirements and high-volume purchases. Faxon, a leader in academic information services, joined RoweCom in October 1999 to offer expanded Internet and e-commerce tools as well as new levels of control, convenience, and cost savings to their clients. According to the company, Faxon, RoweCom Academic, and Biomedical Services will continue their roles as industry leaders providing traditional print and e-journal services; budgeting and collection development solutions; high-quality personal service; and Web-based services including Subscription Depot, License Depot, and Information Quest (IQ). RoweCom is headquartered in Westwood, Massachusetts, and has offices in North America, Europe, and Australia.

NewsEdge Corp. is a provider of global news and current-awareness solutions for business. The company’s mission is to make news valuable for business by helping people find the most important, relevant stories from an overwhelming volume of daily news and enabling them to act on the most current information possible. According to the announcement, NewsEdge’s Enterprise unit serves approximately 1,400 organizations, including 43 of Business Week’s 50 largest global companies with award-winning news and information solutions including NewsEdge Insight, NewsEdge Live, and NewsEdge Review topics. NewsEdge is headquartered in Burlington, Massachusetts, with sales offices and distributors throughout North America, South America, Europe, Japan, and the Middle East.

[Editor’s Note: For more late-breaking information, see Paula J. Hane’s March 20 NewsBreak at http://www.infotoday.com.]

Source: RoweCom, Inc., Westwood, MA, 617/497-5800; Fax: 617/497-6825; http://www.rowe.com and NewsEdge Corp., Burlington, MA, 781/229-3000; Fax: 781/229-3030; http://www.newsedge.com.


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