MINNEAPOLIS and OMAHA, Neb., Jun. 1 (Korea Bizwire) — With the completion of TBG’s acquisition of DTN from Schneider Electric SE for a total consideration of $900 million, TBG plans to fully reinstate the powerhouse DTN brand that has been known and trusted since 1984, and focus on growing the business in both the domestic and international markets.
DTN is a highly respected, independent source of insight and analysis, and decision-support solutions to more than 80,000 subscribers worldwide in agriculture, oil and gas, trading and weather-sensitive industries. Through DTN’s suite of products, customers receive actionable market information, weather, news and analysis via a SaaS platform.
“The acquisition of DTN is very important for TBG as we have a deep understanding of the SaaS (software as a service) business with decades of experience supporting such solutions,” said DTN Executive Chairman Jerre Stead. “We are fully committed to the DTN business over the long term and our plan is to facilitate DTN’s strategic and commercial expansion around the globe.”
DTN President Ron Sznaider said, “TBG provides strong and stable ownership that offers unmatched long-term investment and commitment to the DTN business. With this support, we intend to deliver new world-class solutions to the market to drive our domestic growth and international expansion plans, and to further enhance the DTN brand.”
As an independent source of mission critical proprietary content and decision support tools, DTN provides customers with actionable insight to make smarter decisions, manage risk and operate more efficiently. The Weather Services business serves customers in energy, aviation, sports and recreation, and transportation to mitigate weather risk via best-in-class weather forecast accuracy and decision support tools. The Agriculture business provides critical information and solutions to allow farmers and agribusinesses to make better decisions for both production efficiency and the buying and selling of grains, oilseeds and livestock. The Trading business offers configurable tools to help customers analyze and make informed trading decisions in futures and physical commodity markets. DTN’s Refined Fuels business connects the downstream oil and gas supply chain as the digital hub for all supply chain participants enabling operational efficiencies and improved profitability.
DTN is the leading digital provider of information services, supply chain connectivity solutions and decision-support tools to more than 80,000 customers in agriculture, oil and gas, trading and weather-sensitive industries worldwide. DTN, based in Omaha, Nebraska and Minneapolis is owned by TBG, a private century old investment holding headquartered in Zurich.
News Media Contact:
Source: DTN via GLOBE NEWSWIRE