June 20, 2013 / 8:21 PM / in 5 years

UPDATE 1-IHS buys Washington consultants PFC Energy

June 20 (Reuters) - 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 Countries (OPEC).

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 nonsubscription business.

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.

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