Bloomberg buys New Energy Finance market research firm
"Capital flows in climate change and clean energy will grow exponentially over the next several years, and our clients need to understand the intricacies of this market just like the other markets we serve,” Bloomberg spokeswoman Judith Czelusniak wrote in an e-mail message. “Combined with New Energy Finance's comprehensive data suite on clean energy and carbon issues, we will build even more functionality and have the opportunity to move these markets forward.”
Terms of the deal were not disclosed.
Michael Liebreich, New Energy Finance’s chief executive, said the firm he founded in 2004 needed a big partner to capitalize on growing demand for data on carbon markets and other clean energy developments. “This is only the third acquisition by this huge and significant player in 28 years,” Liebreich said of Bloomberg. “By their actions they’re signaling the importance and potential of this market.”
New Energy Finance’s research will be integrated into data and analytical services Bloomberg provides to its subscribers.
Liebreich said the two firms had been in discussions for several months and finalized the deal Wednesday.New Energy Finance’s 140-person staff will retain their jobs and Liebreich said he expects to expand the unit’s operations as it is integrated into Bloomberg.
-- Todd Woody