McGraw-Hill Unit Platts Buys Swiss Firm Kingsman
NEW YORK (AP) â¿¿ The McGraw-Hill Companies Inc. said Thursday that its Platts division is buying Swiss analytics firm Kingsman SA for an undisclosed price.
Platts reports on trends and prices for a range of commodities, including energy, petrochemicals and metals. The acquisition of Kingsman, a privately held company that tracks price and other information on the global sugar and biofuels markets, will expand those services.
Founded in 1990 and based in Lausanne, Switzerland, Kingsman employs analysts, researchers and report writers in several markets, including London, Montreal, New Delhi and Sao Paulo.
The deal is expected to close on Nov. 1.McGraw-Hill, known best for its Standard & Poor's Rating Services and Dow Jones Indices, is in the process of separating its education company from its financial and commodities information businesses. It plans to separate into McGraw-Hill Financial and McGraw-Hill Education by the end of the year. McGraw-Hill shares added 50 cents to $55.63 by midday as the broader markets gained.
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