Platts Acquires Commodity Flow
London - March 15, 2016
Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, announced today that it has acquired Commodity Flow, a specialist technology and business intelligence service for the global waterborne commodity and energy markets. The purchase helps extend Platts trade flow analytical capabilities and complements its existing shipping services, including the recent acquisition of Petromedia. Financial terms were not disclosed.
Founded in 2009, Commodity Flow provides commodity and energy trading and shipping customers with waterborne analytics tools. The product suite draws on data visualization that enables users to identify new opportunities and make better informed decisions using proprietary functionality. This includes the ability to monitor changes in trade flows through vessel diversions, as well as intelligence to ascertain whether a tanker is full or empty and what it is carrying.
Platts and Commodity Flow have been technology partners since 2011, with Platts acting as the exclusive distributor of the Platts cFlow product suite.
Imogen Dillon Hatcher, President at Platts said: “The value off cFlow has evolved through successful collaboration by both companies. With Commodity Flow now a part of Platts, we will accelerate this innovation by adding in proprietary data sets tailored to provide customers with ever more relevant information about energy and commodity trade flows.”
John Paskin, CEO, Commodity Flow said: “We are excited to become part of Platts. As the leading provider of information and benchmark prices for the commodities and energy markets, Platts is committed to investing in its trading analytical capabilities and Commodity Flow plays an important part in that vision.”
The addition of Commodity Flow enhances the Platts Analytics portfolio by extending the company’s trade flow analytical tools. These enable customers to undertake proprietary analysis to gain a better understanding of the forces impacting supply, demand and price across energy and commodity markets.
# # #
Americas: Kathleen Tanzy, + 1 917 331 4607, firstname.lastname@example.org
EMEA: Arnaud Humblot +44 207 176 6685, email@example.com and Alex Brog +44 207 176 7645, firstname.lastname@example.org
Singapore: Platts (email@example.com)
About Platts: Platts is the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to Platts' expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets and help them make better informed trading and business decisions. Founded in 1909, Platts' coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping. A division of McGraw Hill Financial, Platts is headquartered in London and employs over 1,000 people in more than 15 offices worldwide. Additional information is available at http://www.platts.com.
About McGraw Hill Financial: McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company's iconic brands include Standard & Poor's Ratings Services, S&P Global Market Intelligence, S&P Dow Jones Indices, Platts, CRISIL and J.D. Power. The Company has approximately 20,000 employees in 31 countries. Additional information is available at www.mhfi.com.
Forward-Looking Statements: This press release contains "forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management's current views concerning future events, trends, contingencies or results, appear at various places throughout this release and use words like "anticipate," "assume," "believe," "continue," "estimate," "expect," "forecast," "future," "intend," "plan," "potential," "predict," "project," "strategy," "target" and similar terms, and future or conditional tense verbs like "could," "may," "might," "should," "will" and "would." For example, we may use forward-looking statements when addressing topics such as: the outcome of contingencies; changes in our business strategies and methods of generating revenue; the development and performance of our services and products; the expected impact of acquisitions; and our cost structure, cash flows or liquidity.
Forward-looking statements are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements include, among other things:
- the volatility of the energy marketplace;
- worldwide economic, financial, political and regulatory conditions;
- concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of our products and services;
- our ability to maintain adequate physical, technical and administrative safeguards to protect the security of confidential information and data, and the potential of a system or network disruption that results in regulatory penalties, remedial costs and/or improper disclosure of confidential information or data;
- the effect of competitive products and pricing;
- consolidation in our end-customer market;
- the health of the commodities markets;
- the level of success of new product development and global expansion;
- our ability to integrate, and realize expected synergies, savings or benefits from the businesses we acquire;
- the level of our capital investments;
- our ability to successfully recover should we experience a disaster or other business continuity problem, such as a hurricane, flood, earthquake, terrorist attack, pandemic, security breach, cyber-attack, power loss, telecommunications failure or other natural or man-made disaster; and
- our exposure to potential criminal sanctions or civil remedies if we fail to comply with foreign and U.S. laws and regulations that are applicable in the domestic and international jurisdictions in which operate.