Platts on Tuesday said it has reached an agreement to buy privately held energy analytics company Bentek Energy. Financial details were not disclosed.
Platts, a unit of McGraw-Hill Companies, said the acquisition will deepen “its analytical capabilities globally and enhance its coverage of the North American and European gas and related power markets.” The company hopes to complete the purchase early next year.
Once the acquisition is completed, Bentek will continue to operate under its current name with its current management, Platts said.
“Bentek is a highly successful company whose leadership position has been attained through its deep understanding of energy industry dynamics, of the data reflecting those dynamics, and of the requirements of customers,” Platts President Larry Neal said in a statement.
“By combining Bentek’s analytical expertise with Platts’ products, we can offer customers a comprehensive view of the North American natural gas market. Our collective capabilities will provide them with a unique lens on the market – from underlying supply/demand fundamentals to real-time news and price information – and deepen our coverage of other complex commodity markets.”
Bentek President and CEO Porter Bennett said Platts’ current position in power, coal and LNG, coupled with its global sales force, provides the opportunity to accelerate international markets. “As part of Platts, we are better positioned to capitalize on the increasing internationalization and interdependence of the natural gas and liquids markets and address the growing global demand for fundamental market data and analysis.”
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