Source: Deutsche Bourse
Deutsche Börse has acquired the assets of Kingsbury International Ltd., a U.S.-based business and economic consulting firm known for creating and releasing the monthly Chicago Business Barometer, also known as the Chicago Purchasing Managers' Index (Chicago PMI).
The acquisition was completed for a US$ amount in the single-digit million range that includes a performance-related payment. This transaction further enhances the Market Data & Analytics segment by expanding its global product offering.
"The Chicago Business Barometer is one of the most widely followed barometers among professional traders and market participants who use macroeconomic figures to make informed trading decisions," said Holger Wohlenberg, Managing Director, Market Data & Analytics for Deutsche Börse Group. "With this transaction, we are able to offer our customers direct access to an important U.S. data source."
The Institute for Supply Management's Chicago affiliate, ISM-Chicago, is a non-profit purchasing and supply organization that partners with Kingsbury in developing the Chicago Business Barometer. ISM-Chicago Immediate Past President Steven Brundridge and Executive Vice President Dan Martin have been involved in the review and oversight for this transition on behalf of ISM-Chicago. "This transfer provides platform stability and the potential to provide a broader audience for this key economic data," said Mr. Brundridge.
Patricia Horvath, incoming President of ISM-Chicago, noted, "ISM-Chicago welcomes Deutsche Börse as a partner in the future development of the Chicago Business Barometer as a leading indicator of U.S. economic activity."