(Alliance News) - Clear Leisure PLC on Thursday said PBV Monitor Srl has inked a contract with Italian financial publisher Class Editori SpA.
Shares in leisure and real estate companies investor Clear Leisure were up 2.5% at 0.20 pence in London on Thursday afternoon.
PBV is an Italian legal database firm in which Clear Leisure holds a 10% interest. PBV "will provide all relevant content, from its legal database, to produce a comprehensive annual report on Italian law firms".
This content will then be published by Class Editori, appearing in existing Class Editori publications.
Every report edition has a "national annual award" attached and organised by Class Editori. The precise value of the deal and length of the contract have not been disclosed.
According to Clear Leisure: "The relevance of this agreement is particularly important for PBV Monitor, as it is confirmation of the quality and uniqueness of its legal database. Further, PBV Monitor believes the deal will also help increase the reach of its flagship product, the Intelligence Search, into large law firms and in-house corporate lawyers, where it charges an annual subscription price of EUR14,640."
This model is particularly suited to PBV as it has already collated the information within its legal database and so can distribute the information "at virtually no cost". PBV has told Clear Leisure that its database is currently being assessed "by a number of large London based law firms".
Clear Leisure Chair & Chief Executive Francesco Gardin said: "We are particularly pleased by the agreement, because it could provide a meaningful increase in revenues, at virtually no cost for PBV Monitor, whilst also increasing the profile and reach of PBV Monitor's flagship product to a wider market."
By Anna Farley; annafarley@alliancenews.com
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