TimeBase Pty Ltd acquired by a private investor group led by Andrew Bird and Tony Young

Sydney, 31 May, 2012, TimeBase, an Australian provider of online legal information products and services, has been acquired by a private investor group led by Andrew Bird and Tony Young. The transaction was completed today. Financial terms are confidential and were not disclosed.

The investor group is led by Waimarie Investments, a private investment company run by Andrew Bird. Bird was, until mid-2010, the CEO of Morningstar Australia and New Zealand. He assumed the CEO role at Morningstar after Morningstar acquired Aspect Huntley in 2006, a financial information firm he co-founded in 1997.

Bird has previously worked in the legal publishing industry at CCH Australia where he was a publisher and head of sales and marketing during the 1990s. “I have been involved in legal and financial information businesses for more than 20 years and I am delighted to be back in the legal publishing side of things. TimeBase is a terrific company with a loyal subscriber base and we are looking forward to working with the staff and customers to invest and grow the business into the future,” said Bird.

TimeBase will continue to operate as a standalone business and current staff and operations will remain largely in place. The current CEO, Lisa Northwood, will be stepping down on completion of the acquisition. Andrew Bird will assume the CEO role on an interim basis until a new leader of the business is appointed.

For further information please contact Andrew Bird on 0410 698 849

About TimeBase

TimeBase is an Australian legal publisher with the most comprehensive national coverage of legislation in Australia, as well as a range of other innovative legal research tools. The legislative services include LawOne and LawTracker, providing access to full text legislation, bills, case law and related historical materials in a powerful, user-friendly interface.

TimeBase has also developed an extensive range of Point-in-Time Products providing complete legislation pictures at any date, with instant version comparison and comprehensive, date sensitive, related materials. TimeBase was founded in 1994 and has its head office in Sydney, Australia

About Waimarie Investments

Waimarie is a private investment company led by Andrew Bird. It has investments in a range of information and software businesses. Investments include Sharesight, a cloudbased portfolio administration site for investors (www.sharesight.com.au), and Allette Systems, a provider of content management software and integration services based on the Pageseeder platform (www.pageseeder.com.au).