The Dolan Company Acquires Maryland Co.
The Dolan Company announced Wednesday that it has acquired College Park, Maryland-based DataStream Content Solutions, LLC.
DataStream provides federal legislative and regulatory data, as well as advanced content management systems, to information companies, publishers, and governments.
Following the transaction-of which the financial terms were not disclosed-DataStream will be integrated into The Dolan Company's business information division. DataStream will continue to operate from its Maryland offices.
“DataStream's successful subscription-based model is a good example of how we plan to grow this part of The Dolan Company in the future,” Chairman, President, and CEO James P. Dolan said in a statement.
According to Minneapolis-based The Dolan Company, DataStream's technology “transforms highly complex and unstructured data into valuable products and services” for its clients. For example, the company uses XML language to convert unstructured data into what is considered “smarter” forms-which allows for more dynamic database updates.
DataStream's business lines and products-including Legislative Impact and Regulatory Impact-are licensed to business clients and to the U.S. House of Representatives Office of Legislative Counsel. The products help streamline the process of searching large federal databases.
The company's subsidiary, Potomac Publishing, will also be acquired by The Dolan Company.
Mark Anstey, DataStream's founder and president, will continue to run the company's operations, along with Chief Information Architect Ed Schulke. Anstey and Schulke will report to Mark Stodder, executive vice president of The Dolan Company's business information division.
“We are very pleased to be joining The Dolan Company,” Anstey said in a statement. “It's an exciting fit between our technological approach to government information and Dolan's ability to market high-value business information and intelligence.”
The Dolan Company expects the acquisition to have no effect on its previously announced 2010 financial guidance, and it will be “modestly accretive” to 2011 financial results on a cash earnings basis, while not having an impact on 2011 net income.
The Dolan Company is among Minnesota's largest public companies based on revenue, which totaled $262.9 million in 2009. The company's business information division publishes business journals, court and commercial media, and other information products. It also operates Web sites aimed at legal and professional audiences.