June 20 IHS Inc has bought
Washington-based consultants PFC Energy, the company said on
Thursday, adding another firm to its expanding empire of oil,
gas, and coal analysts.
Since the start of 2013, IHS has taken over four energy
analysis and consulting firms, including one focused on coal,
and two years ago purchased Purvin & Gertz, a well-established
oil research company.
Terms of the deal were not disclosed.
PFC Energy is an independent partnership of 130 oil and gas
analysts and consultants that provides research and advice to
oil multinationals, governments and national energy companies -
including members of the Organization of the Petroleum Exporting
Headquartered in Washington D.C., it also has six other
offices, including Houston, Singapore, and Moscow.
IHS's share price has more than tripled since late 2008 to
around $103, valuing the company at more than $6.75 billion. But
on Thursday its shares slid sharply after second-quarter revenue
came in below analysts' estimates, with growth slowing in its
IHS shares fell 7 percent to close at $100.22 on the New
York Stock Exchange.
Overall revenue rose 8 percent to $418.1 million, missing
the $423.3 million analysts had estimated.
The company's nonsubscription business, which includes
consulting, software licensing and events, grew 4 percent in the
second quarter. The business accounted for 24 percent of IHS's
revenue last year.
IHS has more than 6,700 employees in 31 countries around the
world, the company said.