Commodity market information provider ICIS this week acquired Heren Energy Ltd. (ICIS is a unit of Reed Business Information UK). Heren Energy is a European gas, power and carbon market information provider.
The deal is expected ICIS to broaden its geographic scope of international energy markets. In addition, it should yield great global sales opportunities for Heren, which provides independent price assessments and indices to wholesale gas and power markets in Europe.
According to a statement announcing the deal, ICIS officials noted that the deal will enable ICIS to expand beyond petrochemicals into additional energy markets. ICIS expects to leverage the strong Heren brand name with its strengths in price reporting, online content delivery and web marketing to yield a more robust offering for the market.
As the energy market continues to garner much attention, this seems to be an ideal time for ICIS to increase its presence in this space. And, by selecting an established player such as Heren, ICIS (and Reed) will be able to make an immediate impact. Look for Heren to grow its name in the market even further, through momentum it will likely gain from the powerful resources Reed always brings to the table.