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IHS Inc. has signed a definitive agreement to acquire GlobalSpec Inc. from Warburg Pincus LLC for $135 million.
Founded in 1996, GlobalSpec provides its registered users with a 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 with the highest levels of accuracy and productivity, said the company.
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,” said IHS chairman and chief executive officer, Jerre Stead.
“With the acquisition of GlobalSpec, IHS will transform engineering workflows and decision making with seamless integration of information, insight and productivity tools. This market-leading workflow solution set will provide unique value to customers and drive long-term, double-digit growth at accretive margins," added Stead.