ERM.L Share News (ERM)

(Sharecast News) - B2B information services provider Euromoney Institutional Investor said on Monday that it has bought price reporting agency (PRA) The Jacobsen for $12.25m.
The Jacobsen provides price assessments and forecasts primarily in North American markets, including coverage of animal fats, feeds and vegetable oils as well as feedstocks for low-carbon intensive fuels. The business generated sales of $2.4m for the 31 December 2020 year.

Euromoney said this is a "highly complementary, strategic bolt-on" acquisition for its PRA business, Fastmarkets.

Fastmarkets chief executive officer Raju Daswani said: "Euromoney's price reporting agency, Fastmarkets, is a 3.0 business, providing commodity price benchmarks and analysis that is critical for our clients' processes and workflows.

"The acquisition of The Jacobsen is an important step in extending the reach and industry coverage of Fastmarkets: it will enhance our important and strategic position in the agriculture market and strengthens our position in North America. As part of Fastmarkets, The Jacobsen will develop this position further by leveraging our expertise in pricing and gaining access to our global PRA infrastructure."