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Weekly News Digest

July 16, 2012 — In addition to this week's NewsBreaks article and the monthly NewsLink Spotlight, Information Today, Inc. (ITI) offers Weekly News Digests that feature recent product news and company announcements. Watch for additional coverage to appear in the next print issue of Information Today. For other up-to-the-minute news, check out ITI’s Twitter account: @ITINewsBreaks.

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IHS Acquires Invention Machine and GlobalSpec

IHS Inc. acquired Invention Machine for about $40 million. Invention Machine is a provider of semantic search technology that uncovers relevant insights held within a wealth of internal and external knowledge sources. Their patented semantic question-answering software engine leads engineers and knowledge workers to information quickly and enables them to rapidly digest it to make better decisions. As previously announced, IHS also has completed the closing of its acquisition of GlobalSpec Inc., from Warburg Pincus LLC for $135 million. GlobalSpec is a provider of specialized vertical search, product information, and global access point providing critical digital information tied to key product engineering and design workflows for 7 million engineers.

Invention Machine’s Goldfire product is the decision engine built on top of a patented semantic search engine that connects engineers and innovation and knowledge workers, on-demand, to one another and to the internal and external knowledge and trends needed to develop, maintain, and produce breakthrough products and services. Semantic search engines understand the meanings and relationships of words, and can provide more relevant results than traditional text-based search engines.

IHS president and chief operating officer Scott Key said, “Invention Machine is an excellent strategic fit for IHS and is a critical component of the evolution and transformation of the Product Design business. Invention Machine provides a software tool that lays on top of IHS and GlobalSpec content, as well as a customer’s own internal and external content, to enable customers to rapidly digest information and make better decisions.”

Headquartered in Boston, Invention Machine employs about 100 people and also has offices in Minsk, Belarus; London; Frankfurt; Paris, and Tokyo. GlobalSpec is headquartered in East Greenbush, N.Y. and employs about 230 people. IHS is headquartered in Englewood, Colo. and employs more than 6,000 people in more than 30 countries around the world.

Source: IHS Inc. 

Send correspondence concerning the Weekly News Digest to NewsBreaks Editor Brandi Scardilli

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