Focusing on acquisition opportunities that offer a sound strategic fit with the IHS operating segments -- Energy and Engineering -- these moves enhance existing IHS core capabilities and add value for customers in the energy and construction industries worldwide. The combined purchase price of these two businesses was approximately $47 million and was paid from existing cash on hand.
"These two attractive acquisitions, like others we've done and will do, are customer-driven and allow us to be even more effective in delivering our high-quality critical technical information, decision-support tools, and strategic and operational services," said Charles Picasso, IHS President and CEO. "Smart acquisitions like this also help us to profitably grow the company and supplement our strong organic growth objectives and operational efficiency goals."
In the Energy segment, IHS has acquired GeoPLUS Corporation of Tulsa, Okla. GeoPLUS has a PC-based software family, PETRA®, which is a popular platform used by oil and gas companies to analyze subsurface data from existing oil and gas wells. This acquisition will enhance decision support tools that our oil and gas customers use to analyze the information in our critical exploration and production databases.
In the Engineering segment, IHS has acquired CRC Limited, of London, UK. CRC was created by the Building Research Establishment (BRE) and Emap Construct to deliver a wide range of BRE products relating to the construction industry, ranging from environmental issues to fire safety. This acquisition provides construction professionals and users of BRE data with one of the largest and most comprehensive single sources of critical information for the UK construction industry and other markets utilizing British construction standards.
About IHS is one of the leading global providers of critical technical information, decision-support tools and related services to customers in a number of industries including energy, defense, aerospace, construction, electronics, and automotive through two operating segments: Engineering and Energy. We serve customers ranging from governments and large multinational corporations to smaller companies and technical professionals in more than 100 countries. Our customers rely on our offerings to facilitate decision making, support key processes and improve productivity. We have been in business for more than 45 years and employ more than 2,300 people around the world.
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