London - Reed Elsevier PLC, a London-based publisher and parent of the LexisNexis information service, will spend $3.6 billion cash for ChoicePoint Inc., a 1997 offshoot of Equifax, the companies report. The acquisition is subject to ChoicePoint shareholder and regulatory approval, is expected to close in the summer of 2008.

The deal has far-reaching implications for the insurance industry. ChoicePoint, which collects, sells access to and analyzes consumers' personal information, provides data and analytics to insurers of all sizes.

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