Just one day after announcing its acquisition of Documental Solutions LLC (a provider of market intelligence and analytics for the defense and aerospace industry), information provider IHS Inc. announced its purchase of Divestco USA Inc. for about $3 million in cash. Divestco serves the oil and gas industry with data and analytical tools.
Divestco's content includes drilling records, permits and rig activity, production data and public land survey (mapping) information. It is used by engineers, geo-scientists, financial analysts and service companies.
IHS plans to integrate Divestco's drilling records, rig activity and other oil and gas databases into its Energy division.
Just the fact that it's so much easier and less time-consuming to buy established quality databases than to build them is one main reason why this acquisition makes sense. Divestco's established products will have an immediate positive impact for IHS as they help further build the company's Energy unit. Customers of both companies will certainly benefit from the two joining forces, and perhaps the two will work together to create additional offerings for their shared customer base.