What goes around comes around. After a five year retrenchment, which kept competition guessing whether D&B would eventually completely withdraw to fortress America, international expansion is again on the agenda.  Instead of returning most of its free cash flow (currently approximately US$ 300 million per annum) to shareholders, D&B will reduce the share repurchasing program to US$ 200 million.  D&B intends to spend US$ 500 million on acquisitions during the next five years.  The acquisition targets are technical platforms and analytical capabilities.  D&B also believes more growth opportunities exist in Asia.  The appointment of an outsider as President – D&B International signals that international expansion is indeed being considered in earnest.  Source: www.dnb.com – Investors Day September 15, 2006

BIIA Newsletter September – 2006 Issue