LONDON, July 17, 2014 /PRNewswire/ -- Platts, a leading global energy, petrochemicals, metals and agriculture information provider, announced today that it has acquired London-based Eclipse Energy Group, a privately owned provider of data and analysis on the European gas, power and global liquefied natural gas (LNG) markets. The acquisition will enable Platts, a business of McGraw Hill Financial (NYSE: MHFI), to combine Eclipse Energy's analytics with Platts' pricing information to help market participants understand the impact of events and the drivers of price.
Terms of the deal were not disclosed.
"With the acquisition of Eclipse Energy, Platts continues to build on its successful track record of adding analytical capabilities and fostering emerging benchmarks, as well as strengthening its global footprint in key markets," said Douglas L. Peterson, President and Chief Executive Officer of McGraw Hill Financial. "Through both organic growth and strategic acquisitions such as Eclipse Energy, we expect Platts to continue to contribute to the strength of McGraw Hill Financial's portfolio."
"Eclipse Energy brings extensive knowledge and expertise in the European gas and power markets; a reputation for timely, accurate and actionable data and analysis, including forecasting; and a strong track record of market-led product development," said Larry Neal, President of Platts. "The acquisition furthers Platts' strategy of linking price information and market fundamentals to expand our offerings, much as our acquisition of Bentek Energy did in 2011 for North America."Eclipse Energy was founded in 2002 by Robert Minsaas and John King, and has offices in London, Norway and Singapore. The company provides price forecasts, scenarios, country analysis, fundamental market data, news and commentary on gas and power markets in the U.K. and Europe to a blue-chip client base of energy companies and financial institutions. Its Xplore online analytics platform provides proprietary data, analysis and forecasts for traders. Eclipse Energy also has an advisory business focused on investment and decisions support to the global LNG, European gas and power markets, and recently launched its Global LNG service, which provides global fundamentals, weekly market observations, and a contracts and project database via the Xplore platform. "We're excited to be joining Platts," said Mr. Minsaas, Group Managing Director of Eclipse Energy. "Together, Eclipse Energy and Platts will uniquely cover the North American energy market through Bentek, the European market through Eclipse Energy and jointly the global LNG market. This positions us to be in front of the growing demand for more sophisticated and in-depth data and analysis in the European gas and power markets." Mr. Minsaas and Mr. King will remain with Eclipse Energy in management positions following the acquisition.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV