Douglas County-based IHS Inc. today announced that it is acquiring GlobalSpec Inc. for $135 million.
The information and analytics company has agreed to acquire the East Greenbush, N.Y. company from Warburg Pincus LLC, a global private equity firm based in New York City .
GlobalSpec is a technology company, which provides a search engine of engineering and industrial products from more than 24,000 manufacturers.
IHS said GlobalSpec, because of its “vibrant community of engineers” and manufacturing knowledge, has become a key destination for engineers as well as suppliers of products and services that support “a worldwide engineering audience.”
GlobalSpec employs approximately 230 people.
“Acquisitions continue to be a key element in the strategic development of the IHS business and a driver of the company’s long-term growth,” said IHS chairman and chief executive Jerre Stead .
“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,” Stead added.
Recently IHS acquired Wellingborough, U.K.-based IMS Research as a means to extend its global reach, Stead said at the time.
IMS provides research and data to original equipment manufacturers.
The purchase of IMS came on the heels of news that IHS’s first quarter earnings grew by 17 percent over the same period a year ago.
IHS first quarter earnings for 2012 were at $343 million, up from the $293 million it reported for the same period in 2011 .
IHS employs approximately 5,900 people in more than 30 countries around the world.
Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com on twitter @HowardPankratz
