Deutsche Brse has acquired the assets of Kingsbury International Ltd., a U.S.-based business and economic consulting, also known as the Chicago Purchasing Managers Index (Chicago PMI).
The acquisition was completed for a US-dollar amount in the single-digit million range that includes a performance-related payment. This transaction further enhances the market data and 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, says Holger Wohlenberg, managing director of market data and analytics for Deutsche Brse Group. With this transaction, we are able to offer our customers direct access to an important US data source.
The Institute for Supply Managements Chicago affiliate, ISM-Chicago, is a nonprofit 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, Brundridge says.
Patricia Horvath, incoming president of ISM-Chicago, adds: ISM-Chicago welcomes Deutsche Brse as a partner in the future development of the Chicago Business Barometer as a leading indicator of US economic activity.
(CM)