Thomson Corp. is selling its portfolio of health care magazines and related services to a Boston-based company in a $135-million (U.S.) deal.
The agreement with Advanstar Communications Inc. involves the medical economics, dental and veterinary publishing portfolio of Thomson Healthcare. The all-cash purchase is expected to close this fall, subject to regulatory approvals and other customary closing conditions, Thomson said in a statement.
The portfolio is composed of three groups: Medical Economics Communications Group, headquartered in Montvale, N.J.; Dental Products Report Group in Northfield, Ill.; and Veterinary Healthcare Communications Group in Lenexa, Kan.
In total, the portfolio includes 15 magazines, one veterinary tradeshow and conference, and a special projects group. Total revenue for the portfolio being sold to Advanstar was $87.7-million in 2002.
In a separate transaction announced Monday, Thomson said it is buying the U.S. company Techstreet Inc. The financial terms of the deal weren't disclosed.
Michigan-based Techstreet provides engineers, researchers, technical and other information professionals around the world with full-text industry standards and specifications either in print or an electronic format.
Shares in Thomson, former newspaper publishing giant and now mostly a provider of electronic information services to businesses and professionals, fell 29 cents to $41.59 in Monday trading on the Toronto stock market.