Financial Times Energy, part of Pearson plc’s Financial Times Group, has strengthened its position as one of the world’s leading energy industry information businesses with the acquisition of Pasha Publications Inc, for $17.8 million.
Pasha, which is the leading provider of energy market and pricing information in the US, achieved revenues of $8.7m in the year ended December 1997.
Commenting on the acquisition, David Bell, Chairman of the Financial Times Group, said, "Pasha is a strong business, with good growth prospects. It has the people and the products that will strengthen FT Energy’s position as the premium source of global energy business information in a market with voracious information needs."
Pasha Publications Inc is the leading provider of pricing, economic and operational information on natural gas, electric power and coal to the energy and finance industries. Its energy publications include Gas Daily, Megawatt Daily and Coal Outlook. Tod Sedgwick, founder of Pasha Publications, will become Managing Director of Financial Times Energy’s US newsletters and conferences operations, reporting to Ron McMahan CEO of Financial Times Energy.
With the acquisition of Pasha Publications, Financial Times Energy will be the premier provider of energy information products in Europe, Asia and North America with annual revenues in excess of $40m. It publishes a wide range of energy newsletters, including Power In Europe, Gas In Asia and International Coal Report. Following the acquisition of Resource Data International, Inc ( RDI ) in August 1997, it is also the leading provider of market and competitive analysis databases, strategic studies and related consulting services in North America.
Financial Times Energy is one of the Financial Times Group’s branded businesses. The Group provides general business news, analysis and decision support to the international business community in print, through its flagship, the Financial Times Newspaper, and through a range of FT branded magazines, newsletters and electronic and on-line products.
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