New York—McGraw-Hill Cos.' Platts division has agreed to acquire the Steel Business Briefing Group, which provides pricing and analytics to the global steel market. Financial terms of the deal, which is expected to close July 1, were not disclosed.
Platts provides subscription-based information on the energy, petrochemicals and metals industries. Earlier this year, it acquired Bentek Energy, which provides natural gas analytics.
“This acquisition reflects our strategic focus on high-growth global brands and businesses,” said Harold McGraw III, chairman and president-CEO of McGraw-Hill, in a statement. “Platts, which derives almost two-thirds of its revenue outside the U.S., is McGraw-Hill's most global business and is relied upon worldwide for its news, pricing and analytical services for billions of dollars of commodities transactions annually.”