IHS Inc. , Englewood, Colo., (NYSE: IHS) plans to acquire East Greenbush, N.Y.-based GlobalSpec Inc. from New York-based private-equity firm Warburg Pincus LLC for $135 million.
GlobalSpec is a specialized vertical search, product information and digital media company serving the engineering, manufacturing and related scientific and technical market segments. The company provides domain-specific search engine for more than 3,500 current product, service and technology vertical categories, a vibrant community of engineers helping other engineers solve important problems, and more than 70 product and industry e-newsletters that help engineers and related professionals perform their key job tasks.
IHS chairman and chief executive Jerre Stead says, “While the purchase price for GlobalSpec represents a strategic double-digit EBITDA multiple, it will enable a dramatic transformation of our product design portfolio representing approximately 15% of our revenue. GlobalSpec, combined with our global scale and industry expertise, will create an even greater destination for trusted product information and technical insight for GlobalSpec’s global community of more than seven million engineers.”