IHS buys Environmental Support Solutions for $59M

IHS acquires software provider Environmental Support Solutions for $59 million

• On 5:22 pm EDT, Thursday September 17, 2009

ENGLEWOOD, Colo. (AP) -- IHS Inc., provider of energy and security information to governments and large companies, said Thursday it acquired Environmental Support Solutions Inc. for about $59 million.

Tempe, Ariz.-based Environmental Support Solutions provides environmental, health and safety, and crisis management software.

IHS CEO Jerre Stead said the acquisition was another step in the company's "environment growth strategy, solidifying the IHS commitment to being the leader in global environmental, health and safety management solutions."

Also Thursday, IHS said its fiscal third-quarter profit soared 65 percent, helped by acquisitions and setting a quarterly record.

Shares of IHS gained 72 cents to $53.02 in after-hours trading following the release of the company's earnings report. The stock closed flat at $52.30 in the regular session.