IHS Buys Environmental Support Solutions

Englewood, Colorado-based IHS Inc. reported late Thursday that it has acquired Tempe, Arizona-based Environmental Support Solutions, a developer of environmental, health, and safety software. The deal was worth approximately $59M. According to IHS, the price was about three times revenue and "high single-digital multiple" of ESS's forward adjusted EBITDA. EHS has 102 people, and was founded in 1993. IHS said the buy is part of it strategy to strengthen and grow its capabilities in the environment space. The buy is the fourth for the firm, which acquired EnvironMax, Dolphin Software and Environmental Software Providers in 2007 and 2008.