LexisNexis South Africa, part of RELX Group, has agreed to purchase Korbitec (Pty) Ltd from the Naspers Group for an undisclosed amount. The transaction is subject to approval by the South African Competition Commission. Korbitec is a leading provider of content-enabled workflow solutions for South African property professionals, with two leading products, GhostConvey and Windeed, in addition to its Banking and Municipal services divisions.
The business has its head office in Cape Town and has a major presence in Johannesburg with smaller satellite offices in Durban, Port Elizabeth, Bloemfontein and East London. Korbitec has about 290 employees.
Purchasing Korbitec and its wealth of expertise in the conveyancing market allows LexisNexis to further expand its world class legal information provision in South Africa.
The transaction leaves Naspers to focus on its remaining South African property interests in Property24, the leading South African property portal, and in PayProp, a property rental payment switch.
About LexisNexis® Legal & Professional
LexisNexis® Legal & Professional (www.lexisnexis.com) is a leading global provider of content and technology solutions that enable professionals in legal, corporate, tax, government, academic and non-profit organizations to make informed decisions and achieve better business outcomes. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. Today, LexisNexis Legal & Professional harnesses leading-edge technology and world-class content, to help professionals work in faster, easier and more effective ways. Through close collaboration with its customers, the company ensures organizations can leverage its solutions to reduce risk, improve productivity, increase profitability and grow their business. Part of RELX Group, LexisNexis Legal & Professional serves customers in more than 175 countries with 10,000 employees worldwide.
