DAYTON, Ohio -- Mead Corp. Friday completed the acquisition of The Michie Co. from Macmillan, Inc. for $226.5 million, in a deal involving $61 million in cash and a $165.5 million note payable in 1998.
Michie is a legal publishing firm with headquarters in Charlottesville, Va.
Mead is a paper and forest products company involved in electronic publishing. Its wholly owned subsidiary, Mead Data Central, is a leading electronic information service.
Mead announced its intention to purchase Michie Dec. 6.
'The acquisition of Michie, with its recognized expertise in data collection, editorial services, and hard copy publishing, is an important milestone in our long-term strategy to enhance and broaden the value-added services Mead Data Central offers its legal customers,' Mead Chairman Burnell Roberts said in announcing the purchase.
Michie, established in 1897, publishes regulatory materials, treatises, state statutes and other legal reference books. Its editorial staff employs more than 400 men and women, primarily in the Charlottesville area.
'As part of Mead Data Central, Michie will provide editorial expertise and recognized experience as a hard-copy publisher of legal materials that complement our basic strengths in electronic publishing,' said Jack Simpson, president of MDC. 'It's a natural combination that offers important long-term growth opportunities.'
The subsidiary's LEXIS and NEXIS services provide legal, news, business and general information to more than 200,000 users in the United States and overseas.
