Consulting giant IHS Inc. — which includes a major chemicals and plastics unit — is merging with financial information firm Markit Ltd.
The combined company will be renamed IHS Markit and will be headquartered in London, where Markit already is based. IHS had been located in Englewood, Colo.
IHS shareholders will own 57 percent of the new firm, with Markit shareholders owning the remaining 43 percent. The two firms combined posted sales of $3.3 billion in fiscal 2015.
IHS Chairman and CEO Jerre Stead said in a March 21 news release that the merger “brings together two information-rich companies to create a powerful provider of unique business intelligence, data and analytics to a broad and complementary customer base.”
Stead will be chairman and CEO of IHS Markit, with Markit chairman and CEO Lance Uggla serving as president. Uggla then will assume Stead's titles when Stead retires at the end of 2017.
In 2011, IHS acquired Chemical Market Associates Inc. (CMAI), a leading chemicals and plastics consulting firm based in Houston. That business now operates as IHS Chemical.
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