IHS Inc. (NYSE:IHS), a leading global source of critical information and insight, today announced the acquisition of Prime Publications Limited, which owns 50 percent of Lloyd’s Register-Fairplay Limited. The acquisition makes IHS a 50-50 joint venture partner in Lloyd’s Register-Fairplay, a leading source of global maritime information. Lloyd’s Register, a separate entity, continues to own the remaining 50 percent share.
IHS acquired 100 percent of the stock of Prime Publications for approximately £38 million (British pounds), or roughly $75.5 million U.S. The transaction included approximately £10.7 million (British pounds) in non-interest bearing notes to the sellers of Prime Publications with the balance in cash.
Lloyd’s Register-Fairplay is the pre-eminent brand name in the maritime information industry and the only organization that provides comprehensive details of the current world merchant fleet (tankers, cargo, carrier and passenger ships) and a complete range of products and services to assist the world’s maritime community. Lloyd’s Register-Fairplay uniquely meets international demand for information requirements on ships, companies, ports, real-time vessel movements and related news, and also provides research and consultancy services critical to the shipping industry.
Maritime issues are of enormous priority to corporations, governments and consumers, as shipping serves more than 90 percent of global trade, according to the United Nations. Lloyd’s Register-Fairplay exclusively manages and issues on behalf of the International Maritime Organization, or IMO, the industry standard ship and shipping company numbering system, placing it at the center of the maritime industry. The IMO is a specialized agency of the UN.
For the full press release click IHS