B2B content company Globe Business Media Group has sold its portfolio of law books to a management-led team for an undisclosed sum.
The buyers of the division, Globe Law and Business, are a consortium led by Jim Smith, a publisher who spent a number of years on the board of Lexus Nexus. Sian O’Neill, the m.d. of Globe Law and Business and founder of the list, is also part of the team. All existing staff will transfer to the new company and O’Neill will maintain her role as m.d.
Globe Law and Business was set up in 2005 and currently has 120 titles, with particular strengths in energy, finance, commercial law and intellectual property.
Smith said he hopes to build on the strength of the publishing programme, as well as move the business online. “This acquisition is the initial platform for what I expect to be a significant professional publishing business in the future,” he said.
Tony Harriss, group m.d. of Globe Business Media Group, added: “Sian O’Neill and her team have done a superb job of building an impressive list of titles. We believe that the future success of the books business can best be secured in the hands of specialist book publishers, leaving Globe to focus on its core growth strategy.”