Reuters reports that IHS has agreed to buy Markit Ltd to create a $13 billion London-based data and business research provider. “Markit, founded in 2003 by ex-TD Securities credit trader Lance Uggla in a barn north of London, provides pricing and reference data, index and valuation services” and “competes with Thomson Reuters Corp and Bloomberg LP in providing financial data to investors.” Though based in London, the newly combined company will maintain some operations in Colorado. “The deal is the latest in a string by IHS, whose energy information business, its biggest, has been hit by the slide in oil prices.” In January, IHS said it would buy U.S.-based Oil Price Information Service (OPIS) “to add real-time pricing information to its energy analytics business” and in December, to boost its automotive research business, it agreed to buy Canada-based Carproof Corp.
IHS provides research services and market intelligence and was founded more than 50 years ago. It originated as a product catalog database provider for aerospace engineers. Its information now covers multiple industries including: Automotive, Agriculture, Chemicals, Construction, Retail, Technology, Energy and Natural Resources, Financial, Life Sciences, Maritime, Manufacturing, Military Government, Land Transport, Media and Wood and Paper.