SNL Financial acquires Io Energy

CHARLOTTESVILLE, VA -- SNL Financial LC is pleased to announce the acquisition of leading energy news provider Io Energy LLC.

Io Energy, based in Arlington, Virginia provides weekly, daily and intra-day news to nearly every company that participates in the North American electric power business.

The acquisition will bring together the power business’s second largest data provider and its second largest news provider under one brand - SNL Energy.

“We believe that the combination of Io Energy and SNL represents the first no-compromise alternative to the other leading information vendor in the power industry. Io Energy shares the same passion for its customers as SNL, and we felt that together, we could demonstrate that passion to the market by providing more and better news together with more and better data, all with superior service levels and value,” said SNL President Mike Chinn.

Launched in 2002 by the former publisher and managing editors of Financial Times Energy, the company now produces 10 highly respected publications read by thousands of subscribers that cut across all regions and industry sectors.

“Our plan was to first establish ourselves as a leader in energy news, then move beyond the PDF and marry our news with cutting-edge technology and exceptional industry data in a way that would add depth and meaning to every story,” said Io Energy President Randy Rischard. “After an exhaustive search for the company that could take us there, we found SNL.”

“I am looking forward to spreading this word throughout our client base and throughout the industry,” said Edward Metz, Director of SNL Energy. This combination of the best proprietary news content and innovative data services is just what they have been telling me they are looking for.”

For more than 17 years, SNL Financial’s clients have realized the incredible value of unique-sector specific data and news coverage. SNL’s client roster includes: every significant investment bank serving the banking, insurance, financial services, REIT and energy sectors; top rated sell-side analysts; most of the leading buy-side investment firms; top law firms, consulting firms and advisers to the sectors; executives in the covered companies; every major rating agency; and the regulatory agencies who oversee the sectors.

About SNL Financial

SNL collects, standardizes and disseminates all relevant corporate, financial, market, and M&A data — plus news and analysis — for the Banking, Financial Services, Insurance, Real Estate, Energy and Media & Communications industries. For more information, visit www.SNL.com.