Apax Partners is considering making an offer for Reed Business Information, the £1.25 billion company behind New Scientist and Computer Weekly. The news followed the announcement that Reed Business Information's parent company, Reed Elsevier, is planning to sell off the publisher.

Apax, the private equity group, which owns the business-to-business publisher Incisive and recently paid £1billion for Emap's business-to-business assets, in partnership with Guardian Media Group, is well-positioned to acquire the publisher.

A combination of Reed's magazine division with the publishing assets acquired from Emap would lead to obvious synergies. The relationship with Guardian Media Group also helps.

Interest in the assets could also come from private equity groups, including Providence, Cinven and Candover, as well as trade players such as Informa. United Business Media is thought unlikely to make an offer.

Reed Elsevier also announced plans to acquire ChoicePoint, the United States-based risk information group, for $4.1 billion (£2 billion). Sir Crispin Davis, the Reed Elsevier chief executive, said that he was planning to sell Reed Business Information because the traditional media model was coming under increasing pressure.

UBS has been appointed to advise on the divestment. While a sale is the most likely route, Reed Elsevier said that other options would also be considered.

Sir Crispin, who recently disposed of its education business, wants to focus on areas that deliver more consistent growth. “We want to create a more cohesive company. Reed Business Information ... increasingly does not fit with what we are doing. It is an advertising-led business and is, therefore, more cyclical,” he said.

Reed Elsevier will, however, retain Reed Business Information's profitable exhibitions business, a move that could deter some potential bidders.

Sir Crispin said that the acquisition of ChoicePoint will make Reed Elsevier a leader in marketing risk analytics to the insurance industry. He said that the combination of ChoicePoint with Reed's LexisNexis business could act as a platform for expansion. The deal has the full approval of ChoicePoint's board. “We do see opportunities for global expansion,” Sir Crispin said.

Analysts expressed caution yesterday. Lehman Brothers said in a research note that although the merger is a “good fit”, Reed Elsevier would be paying close to a 49 per cent premium.

Reed's pre-tax profits for the year to December 31 rose 20 per cent to £812 million. Revenues were up 2 per cent to £4.6 billion. Reed is targeting cost savings of £245 million between this year and 2011, with annual savings of £100 million by then. Shares in Reed rose 43.5p, closing at 627.5p.

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