RELX launches cloud hosting facility in Australia to increase market share and comply with regulations

From NASDAQ: 2024-07-04 09:06:00

RELX has outperformed the Zacks Internet – Content Industry with a 15.2% return in the year-to-date period. The launch of a cloud hosting facility in Australia by its subsidiary, LexisNexis Risk Solutions, aims to increase market share and comply with local data regulations, setting the stage for continued growth.

The new cloud hosting service in Australia is certified with ISO 27001, CSA, and HIPAA, enhancing service quality and performance. By leveraging the Microsoft Azure cloud, LexisNexis Risk Solutions aims to provide customers with scalability, faster deployment, and operational flexibility, driving product innovation and deployment speed.

As a key contributor to RELX’s financial performance, LexisNexis Risk Solutions has continuously grown over the past five years, contributing 34% to the company’s total revenues in 2023. The use of cloud services by LexisNexis Legal & Professional through Amazon’s AWS and Bedrock is enabling AI use cases and positioning RELX for future growth opportunities.

Despite facing competition from industry leaders like Thomson Reuters, IBM, and Oracle, RELX is focused on integrating cutting-edge technologies to enhance its offerings and maintain its competitive edge. With a strong presence in the Asia-Pacific region and a commitment to innovation, RELX is poised for sustained financial growth and market leadership.

On its latest earnings call, RELX highlighted the strong performance of its risk management business unit and the growth potential in the legal analytics segment. With a Zacks Rank #2 (Buy) and positive earnings outlook, RELX remains well-positioned to capitalize on emerging opportunities and deliver value to investors and clients alike.



Read more at NASDAQ: RELX Expands Globally With Cloud Hosting Facility in Australia