Bloomberg L.P., a privately held financial data company has acquired New Energy Finance, a UK based provider of news, data and analysis on renewable energy, carbon markets, energy efficiency, biofuels, carbon capture and storage, and nuclear power. The deal size is undisclosed. This would be Bloomberg’s first investment in 28 years before buying Business Week, the business magazine formerly owned by Mc Graw Hill.
“The thesis behind New Energy Finance is that we are seeing a fundamental re-engineering of the world’s energy industry around low-carbon architectures, which will take decades, cost trillions of dollars and require the creation of new market instruments. It will also, of course, require investment-grade information and analysis”, said Michael Liebreich, chairman and CEO of New Energy Finance.
New Energy Finance said that the trading volume of carbon markets which is currently at $120 billion will grow to approximately $2 trillion by 2020. Bloomberg is betting on this huge growth of carbon markets and clean energy investment.
In the past, there have been instances where niche news and research companies have got acquired by big and established media companies for diversification into new geographies and content formats. Recently, Thomson Reuters, a leading financial news and business information company, acquired private equity backed Indlaw Communications Pvt. Ltd., a Delhi-based legal information company, for an undisclosed amount. In a recent interview to Business Today, Bloomberg’s Chairman, Peter T. Grauer said that India is one of the key markets for them for growth and expansion, and it’s likely the financial data gaint will look at interesting properties in India too.
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