CIBC said Wednesday it will realize $52 million after taxes from the sale of its shares in U.S. information services firm Seisint Inc.

Seisint, based in Boca Raton, Fla., provides computerized information useful for recovering debts, detecting fraud, verifying identities and screening potential employees. CIBC acquired shares of Seisint in 2002 when it bought a portfolio of merchant banking investments from Accenture.

CIBC said expects to realize a net gain of about $93 million pre-tax on the sale, $52 million after tax, in the fourth quarter when the transaction is expected to close.

Seisint was acquired Wednesday by LexisNexis, a division of Anglo-Dutch publishing group Reed Elsevier Inc. Completion of the acquisition is subject to the approval of Seisint’s shareholders and regulatory approval in the U.S.

Reed Elsevier said it will integrate Seisint into LexisNexis, its unit for legal, business and government information. The combination would increase LexisNexis’s annual risk solutions revenues to around $300 million, in a sector growing at a rate of seven to nine per cent a year, Reed said.