TBG Completes Acquisition of DTN, a Leading Provider of Digital Information Services and Decision Support Solutions
(Thomson Reuters ONE) -
TBG to Fully Restore DTN Branding, Focus on Domestic and International Growth
MINNEAPOLIS and OMAHA, Neb., June 01, 2017 (GLOBE NEWSWIRE) -- With the
completion of TBG's acquisition of DTN from Schneider Electric SE for a total
consideration of $900 million, TBG plans to fully reinstate the powerhouse DTN
brand that has been known and trusted since 1984, and focus on growing the
business in both the domestic and international markets.
DTN is a highly respected, independent source of insight and analysis, and
decision-support solutions to more than 80,000 subscribers worldwide in
agriculture, oil and gas, trading and weather-sensitive industries. Through
DTN's suite of products, customers receive actionable market information,
weather, news and analysis via a SaaS platform.
"The acquisition of DTN is very important for TBG as we have a deep
understanding of the SaaS (software as a service) business with decades of
experience supporting such solutions," said DTN Executive Chairman Jerre Stead.
"We are fully committed to the DTN business over the long term and our plan is
to facilitate DTN's strategic and commercial expansion around the globe."
DTN President Ron Sznaider said, "TBG provides strong and stable ownership that
offers unmatched long-term investment and commitment to the DTN business. With
this support, we intend to deliver new world-class solutions to the market to
drive our domestic growth and international expansion plans, and to further
enhance the DTN brand."
As an independent source of mission critical proprietary content and decision
support tools, DTN provides customers with actionable insight to make smarter
decisions, manage risk and operate more efficiently. The Weather Services
business serves customers in energy, aviation, sports and recreation, and
transportation to mitigate weather risk via best-in-class weather forecast
accuracy and decision support tools. The Agriculture business provides critical
information and solutions to allow farmers and agribusinesses to make better
decisions for both production efficiency and the buying and selling of grains,
oilseeds and livestock. The Trading business offers configurable tools to help
customers analyze and make informed trading decisions in futures and physical
commodity markets. DTN's Refined Fuels business connects the downstream oil and
gas supply chain as the digital hub for all supply chain participants enabling
operational efficiencies and improved profitability.
ABOUT DTN
DTN is the leading digital provider of information services, supply chain
connectivity solutions and decision-support tools to more than 80,000 customers
in agriculture, oil and gas, trading and weather-sensitive industries worldwide.
DTN, based in Omaha, Nebraska and Minneapolis is owned by TBG, a private century
old investment holding headquartered in Zurich.
News Media Contact:
Sandi Scott
Tunheim Partners
952.851.7216
sscott(at)tunheim.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DTN via GlobeNewswire
Datum: 01.06.2017 - 15:02 Uhr
Sprache: Deutsch
News-ID 545831
Anzahl Zeichen: 3670
contact information:
Town:
Minneapolis
Kategorie:
Business News
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