Reed Elsevier (NYSE: RUK), the B2B media giant is buying U.S. risk-management information business ChoicePoint for $4.1 billion in cash, as it also announced a series of cuts along with its 2007 results today. The Anglo-Dutch company said that it will combine ChoicePoint with its LexisNexis and analytics group and create a risk-management business with $1.5 billion in revenue and a leading position. The acquisition, based on $50 share and subject to ChoicePoint shareholder approval, regulatory approval and certain other customary conditions, is expected to close in the summer of this year.

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ChoicePoint was founded in 1997 in a spin-off from Equifax, the US-based credit bureau. In the company’s decade of operation, annual revenues have grown to about $1 billion. Goldman, Sachs acted as financial advisor to ChoicePoint. Morgan Stanley acted as financial advisor to Reed Elsevier. Lots more in the release.

Also, the company announced it is selling off its Reed Business Information division…more on that in a separate post.