ZEMA Global Data Corporation (formerly ZE PowerGroup), a leading provider of enterprise data management and analytics for the commodity and energy sectors, announced its plans to acquire Morningstar Commodity Data, a provider of commodities and energy data and insights. The transaction is expected to close later this month.
The business will serve a diverse portfolio of over 200 enterprises with an expanded product offering and broader geographic operations to support customers around the world. The announcement comes on the heels of FTV Capital’s significant growth equity investment and the appointment of Andrea Remyn Stone to the role of chief executive officer.
“This transformative acquisition marks a significant milestone in our evolution as we look to add complementary capabilities to meet the growing demand for increasingly complex data and analytics accelerated by the global energy transition,” said Andrea Stone, CEO of ZEMA Global Data Corporation. “Morningstar Commodity Data will bring a new and dynamic customer base in financial services as well as expertise with real-time data to ZEMA, providing an opportunity for us to expand our offering and offer enhanced services to better serve an expanded client base.”
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With this acquisition, ZEMA will expand into financial markets, while continuing to serve supply chain-intensive corporates, independent traders, energy and physical commodities. Morningstar Commodity Data will also bring new capabilities such as real-time data and a multi-tenant public cloud distribution platform. Once the transaction is complete, ZEMA will offer a broad catalog of energy, commodity and weather data, coupled with client proprietary data, that powers mission-critical decisions for the world’s leading companies.
“We’ve built a world-class team that is focused on delivering the energy and commodities data that our clients need. As Morningstar shifts its focus away from this area, I am confident that we’ve found the right place for the Morningstar Commodity Data team to flourish,” said James Rhodes, president of data, research, and enterprise solutions for Morningstar.
“The addition of Morningstar Commodity Data will enhance ZEMA’s capabilities by bringing together two differentiated and highly complementary businesses,” said Robert Anderson, partner at FTV Capital and ZEMA board member. “We’re thrilled to help facilitate this milestone and to support ZEMA in building greater momentum on the exciting journey ahead,” added Brent Fierro, principal at FTV Capital and ZEMA board member.
SOURCE: Businesswire