Reed Elsevier has reached an agreement to sell its R.R. Bowker division to Cambridge Information Group, a Bethesda. Md. based information publisher. As part of the deal, CIG will sell a number of directory products, including Literary Market Place and American Library Directory to Information Today. CIG will keep the bulk of Bowker's reference products, including Books in Print, as well as Bowker's U.K. operations and the Australian DW Thorpe division. The purchase expands Cambridge's reach beyond its traditional fields in science and technology.
The deal is expected to close by September, at which time Michael Cairns, currently v-p, business development for Bowker, will oversee the company's domestic and international operations as general manager. The U.S. offices will remain in New Providence, N.J. As a result of the pending purchases, an undetermined number of positions are being eliminated at the New Providence site.
