Energy Insights Announces Acquisition of EPRI Solutions’ Market Intelligence Division
FRAMINGHAM, MA – MAY 31, 2006 – Energy Insights, an IDC Company, announces today the acquisition of the Market Intelligence Division of EPRI Solutions (formerly Primen, Inc.). Launched in January 2005 as the third in a series of IDC's Industry Insights companies, Energy Insights has shown steady increase in market share, and, with this addition, is now one of the largest U.S. research and advisory firms supporting the energy and utilities marketplace. As a result of the acquisition, Energy Insights' research will cover issues beyond traditional information technology topics, and the company's combined client base will include more than 150 energy companies and energy technology providers.
"Our Insights companies are part of IDC's strategic move to respond directly to the market's demand for industry-specific research and advisory services," says Kirk Campbell, President and CEO of IDC. "We're delighted to see Energy Insights accelerating its growth plan through an acquisition that complements the business and provides executives with an unparalleled resource in the energy industry."
According to Rick Nicholson, Vice President of Energy Insights, "Not only is this acquisition a strategically important move for Energy Insights and IDC, it's also a timely one. The energy industry is at the center of some of today's hottest issues, whether it's the debate over high oil and gas prices or the call for alternative energy solutions."
"With our combined research portfolios, we can now provide truly integrated business and technology research designed to help executives improve organizational performance," continues Nicholson. In addition to seven research programs currently offered by Energy Insights, the company will now have dedicated experts on staff to focus on a broader spectrum of research topics, such as utility customer and load research, as well as the renewable and distributed energy markets. The expanded research portfolio will cover such issues as energy consumers' buying patterns, best practices in load research and forecasting, distributed generation and energy storage, and renewable energy trends.
Adds Brad Davids, former Vice President of EPRI Solutions and newly appointed Vice President of Research for Energy Insights, "I am excited to join forces with Energy Insights. The synergies between our two companies will enable us to build on EPRI Solutions' five years of success in the marketplace, and will uniquely position the firm to deliver expert-based information services and analysis tailored to the needs of our new and existing customers."
EPRI Solutions is a subsidiary of the Electric Power Research Institute (EPRI), a collaborative research and development organization serving the power industry. In 2000, EPRI and the Gas Technology Institute (GTI) created Primen to provide market intelligence specifically for the energy community.
The acquisition announcement comes on the heels of the company's fourth quarterly meeting of its expanding Energy Executive Council, and the successful launch of its Energy and Utilities Forum last week in Chicago.
Client relationships will continue without disruption throughout the transition. Terms of the acquisition were not disclosed. Energy Insights will announce its new product portfolio and research offerings in the coming weeks.
About Energy Insights
Energy Insights, an IDC company, provides energy industry executives with research-based advisory and consulting services that enable energy companies to maximize the business value of their technology investments, minimize technology risk through accurate planning, benchmark themselves against industry peers, adopt industry best practices for business/technology alignment, make more informed technology decisions and drive technology-enabled business innovation. Energy Insights provides full coverage of the energy industry value chain from upstream to retail activities. Staffed by senior analysts with significant technology experience in the energy industry, Energy Insights provides a portfolio of offerings that are relevant to both IT and business needs. Founded in January 2005, Energy Insights is headquartered in Framingham, Mass. Visit http://www.energy-insights.com for more information.
IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. Over 850 IDC analysts in 50 countries provide global, regional, and local expertise on technology and industry opportunities and trends. For more than 42 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting http://www.idc.com .