IHS also announced leadership changes that will see Scott Key, senior vice president for global products and services, take over as president and chief operating officer from Jeffrey R. Tarr at the rapidly growing company. Tarr, who has been with IHS for six year, has elected not to renew his contract and is leaving the company at the end of the year to pursue a CEO position. Key was named a Supply & Demand Chain Executive Pro to Know in 2010.
iSuppli is a global leader in electronics technology research and advisory services, serving a wide variety of market segments, including computer platforms, automotive, consumer electronics and both wired and wireless communications. Its product offerings range from electronic component research to device-specific application market forecasts, from teardown analysis to consumer electronics, and from display device and systems research to hardware design forecasting.
The firm serves companies involved in high-tech services, consumer electronics, multi-national industrial conglomerates, financials, and governments. iSuppli has successfully expanded its capabilities to encompass the full electronics value chain from fundamental electronic component supply to end-market demand. This complete value chain view is critical to operating and investment decisions of electronics manufacturers and across many core IHS market verticals that rely on electronics and electronic components.
"iSuppli was founded with a dedication to helping our clients improve performance in the electronics value chain by providing facts and analysis for success," said iSuppli President and CEO Derek Lidow. "Our business strategy, team of industry veterans combined with our strong commitment to customers and colleagues are excellent complements to IHS, and we look forward to joining with them to deliver the most accurate and trusted electronics information and insight to customers around the globe."
"This acquisition is an excellent complement to the existing IHS Product Design and Supply Chain business, and further builds our position as a key information provider in the electronics, manufacturing and supply chain markets," said IHS Chairman and CEO Jerre Stead. "Combined with the IHS electronic components information business, and our global commodity and economic outlooks, customers will have access to a full suite of robust information services across the entire electronics value chain."
Stead added: "Taking advantage of existing IHS expertise, the acquisition of iSuppli will help us develop new products and services for a variety of the vertical markets we serve. In addition, we are acquiring an important asset base of analysts and researchers, as well as customers across Europe, in China, Japan, Korea and Taiwan."
IHS' other well-known brands include IHS Global Insight, a leader in economic and financial analysis, forecasting and market intelligence; IHS CERA, a leading advisory service on energy markets, geopolitics, industry trends and strategy for international energy companies, governments, financial institutions and technology providers; and IHS Jane's, the information group focused on the defense industry.
Transition from Tarr to Key
Tarr leaves IHS after a successful six-year stint with the company, during which he played a key leadership role in transforming IHS from a publisher of engineering standards and oil and gas well data into what is today a leading source of information and insight in energy, economics, geopolitical risk, environmental sustainability and supply chain management.
"Over the past six years, Jeff has made significant contributions to the record growth and success of IHS as we transformed the company into the leader in providing critical information and insight to businesses and governments around the world, and launched a highly successful initial public offering," Stead said. "He recently indicated a desire to pursue CEO opportunities and concluded that he could not do so while effectively serving as our president and COO. Together we have planned for a smooth transition to allow him to dedicate his energies to this next chapter in his successful career."
Tarr said: "I have enjoyed my six years with IHS and am proud of our accomplishments as a team. The company is well positioned for continued progress and success. As Jerre has indicated that he has no plans to retire, now is a good time for me to pursue my aspiration. I do so with great affection for our colleagues, customers, board and shareowners, and wish them all continued success."
Tarr joined IHS as president and COO of one of the company's two operating divisions in 2004. He was promoted to co-president and COO of IHS Inc., in 2007 and promoted again to sole president and COO in 2008. Prior to IHS, Tarr was chairman and CEO of Hoover's, a publicly traded business information provider. In 2003, he led the sale of Hoover's to Dun & Bradstreet (D&B) and was retained by D&B as president of the new subsidiary.
"IHS has in place the people, products and processes to execute our strategy," Stead said. "With Jeff's support during the transition over the next couple of months, we will not skip a beat in delivering on our goals."
Scott Key joined IHS in 2003 to lead strategy, marketing and product teams for the IHS energy business, and he has led transformation and growth across IHS operations in his eight years with the company. He was involved in supporting the IHS IPO, led Corporate Marketing & Strategic Planning, and has led acquisition integration efforts, including the largest IHS acquisitions.
Based in London while leading IHS Jane's and IHS Fairplay, Key led the EMEA sales organization and supported the transformation of the IHS sales organization into regional teams. During his tenure at IHS, Key has held leadership positions that span each of the company's information and insight assets in Economics, Energy, Security, Product Lifecycle and Environment. Currently, Key is senior vice president for global products and services, overseeing all of IHS insight business capabilities and services.
"We are fortunate to have an executive leadership team with tremendous depth of talent and experience, and I'm pleased we are able to replace Jeff by promoting Scott Key from our team," Stead added. "Scott has filled a series of critical leadership positions for IHS, and I know he will continue to be a tremendous leader in helping drive the continued growth and success of the company."