IHS Inc. (IHS) announced that it has completed the acquisition of Global Insight, Inc. The acquisition closed for $118 million in cash and approximately 1.3 million shares of IHS common stock, which are valued at $47 million based on the closing price of IHS on October 10, 2008.
Terms of the transaction include a lock-up agreement restricting the salability of IHS shares with 10% of the shares restricted for one year, 50% for two years and 40% for three years.
IHS said that Global Insight has estimated 2008 revenues of approximately $120 million.
With the closing, Global Insight's name has changed to IHS Global Insight.
For comments and feedback: editorial@rttnews.com