IHS Inc. announced the acquisition of Prime Publications Limited, which owns 50 percent of Lloyd's Register-Fairplay Limited. The acquisition makes IHS a 50-50 joint venture partner in Lloyd's Register-Fairplay, a leading source of global maritime information. Lloyd's Register, a separate entity, continues to own the remaining 50% share.
IHS acquired 100 percent of the stock of Prime Publications for approximately £38 million (British pounds), or roughly $75.5 million U.S. The transaction included approximately £10.7 million (British pounds) in non-interest bearing notes to the sellers of Prime Publications with the balance in cash.
Lloyd's Register-Fairplay is the pre-eminent brand name in the maritime information industry and the only organization that provides comprehensive details of the current world merchant fleet (tankers, cargo, carrier and passenger ships) and a complete range of products and services to assist the world's maritime community. Lloyd's Register-Fairplay uniquely meets international demand for information requirements on ships, companies, ports, real-time vessel movements and related news, and also provides research and consultancy services critical to the shipping industry.
"The maritime information market is a dynamic and growing segment of the world economy, and it is of significant interest to IHS customers in our four business domains: energy, product lifecycle, security and environment," said Jerre Stead, IHS chairman and chief executive officer. "As just one example, real-time tracking and monitoring of energy shipments -- combined with monitoring of vessel status, port conditions and security threats -- combine all the security, energy, environment and product lifecycle domains that are so important to our customers. It's a critical information combination that they can't get anywhere else."
Perissos Developments Ltd., led the negotiations of the transaction for the shareholders of Prime Publications.
Most Popular Articles
From the Career Center
Jobs that may interest you