Reed Business Information eyes acquisitions

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New York--In his keynote address at DeSilva & Phillips M&A Conference on Tuesday, Reed Business Information CEO James A. Casella made it clear that his unit of Reed Elsevier intends to re-enter the acquisition market this year.

Reed Business Information U.S., which had revenue of about $600 million in 2003, has set a goal to grow its revenue to $1 billion in the near future. It will do so through organic growth and acquisitions, Casella said.

Adding controlled circulation publications to the RBI portfolio is low on his list, Casella said. Instead, he wants to reduce RBI's dependence on advertising revenue to 50% from 65% of total revenue.

At the same time, Casella hopes to boost subscription revenue products from 17% to 32% of total revenue. To accomplish this goal, at the top of Casella's wish list are syndicated research and data services products.

--Sean Callahan

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