IHS Inc. (NYSE: IHS), a leading global source of critical information and insight, today announced it has acquired Documental Solutions LLC, a leading provider of market intelligence and analysis tools for the defense and aerospace industry, for $24.5 million in cash.
"Combining the market analysis tools of Documental Solutions with the industry-leading insight of Jane's Information Group creates a world-class solution for the global defense industry," said Jerre Stead, IHS chairman and chief executive officer. "Documental Solutions products are a perfect complement to Jane's existing defense market data and insight products -Â now enabling customers to carry out the highest level of strategic market analysis, through to very tactical program analysis, sales opportunity capture and tender support."
Founded in 1999 by Pete Cyr and Dick Wieland, Documental Solutions provides market-leading analysis and decision-support tools for strategic planners, business developers and analysts within the defense and aerospace industry. Its flagship product, DS Forecast, is a visual, interactive and personalized market analysis solution that is backed by bottom-up market intelligence developed by highly experienced industry analysts, utilizing research from a vast array of sources to provide a powerful force-multiplier to their customers' existing analytical and commercial operations. DS Forecast provides 10-year forecasts for 19 global defense and aerospace markets based on thousands of individual product-level forecasts for existing programs and future opportunities. Headquartered in Falls Church, Va., Documental Solutions enables its customers to spend more time and resources on analysis and decision-making rather than data gathering.
"We are extremely pleased to be joining IHS and integrating our offerings with those of Jane's," said Pete Cyr, Documental Solutions co-founder, president and chief executive officer. "The combination of Documental Solutions' analytical capabilities and Jane's world-renowned intelligence insight and Strategic Advisory Services creates unparalleled value for customers in need of aerospace and defense information; from news and analysis to forecasting and strategic consulting services."
This acquisition was done at approximately 10 times forward EBITDA and first full-year operating margins are expected to approximate IHS overall margins. The company will be integrated with and managed through Jane's Information Group - acquired by IHS in 2007 - as part of the IHS Security domain, and will be supported via regional commercial operations to provide extended market reach to support customers throughout the global defense community.
About IHS (www.ihs.com)
IHS (NYSE: IHS) is a leading global source of critical information and insight, dedicated to providing the most complete and trusted data and expertise. IHS product and service solutions span four areas of information that encompass the most important concerns facing global business today: Energy, Product Lifecycle, Security and Environment. By focusing on customers first, IHS enables innovative and successful decision-making for customers ranging from governments and multinational companies to smaller companies and technical professionals in more than 180 countries. IHS has been in business since 1959 and employs approximately 3,000 people in 20 countries.
IHS is a registered trademark of IHS Inc. All other company and product names may be trademarks of their respective owners. Copyright© 2008 IHS Inc. All rights reserved.
IHS FORWARD-LOOKING STATEMENTS: This release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Such statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products, and services, and statements regarding future performance. Forward-looking statements are generally identified by the words "expect," "anticipate," "believe," "intend," "estimate," "plan" and similar expressions. Although IHS and its management believe that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties--many of which are difficult to predict and generally beyond the control of IHS--that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified by IHS from time to time in its public filings. Other than as required by applicable law, IHS does not undertake any obligation to update or revise any forward-looking information or statements. Please consult our public filings at www.sec.gov or www.ihs.com.