278:
integrate
Primark's offerings with its own brands such as ILX and First Call. The deal came as a further sign of Thomson's moves to extract itself from some of its traditional operations such as small-circulation newspapers to move toward electronic-based business. It was announced that Thomson was acquiring Primark for approximately US$ 842 million, and the assumption of $ 235 million in Primark debt, while Primark had 1999 revenues of $ 495 million. Joseph E. Kasputys, Primark's Chairman and Chief Executive Officer, became Chairman of Thomson Financial.
238:
Economic
Information Services. Chase Econometrics had been founded by Michael Kaye Evans, who had previously collaborated with Klein at Wharton but parted ways. An earlier magazine article had described Wharton Econometrics as "austere and academic", Data Resources as "cerebral and expanding", and Chase as "outspoken and controversial". Lawrence Chimerine, chairman of Chase Econometrics, became chairman and CEO, of the new business, while Lawrence Klein was positioned to act as a consultant and continue to oversee the board.
129:
Finance and
Commerce at the University of Pennsylvania, ex officio, The Chairman of the Department of Economics of the University of Pennsylvania, ex officio, Paul F. Miller, (Board of Trustees of the University of Pennsylvania), Michael K. Evans (University of Pennsylvania, economics department), Paul Taubman (University of Pennsylvania, economics department), and Richard J. Kruizenga,(Chief Economist and Manager, Corporate and Environmental Economics, Standard Oil Co. of New Jersey).
309:
WEFA had about 220 employees and DRI about 250. At its peak, DRI, the larger of the two, had brought in US$ 100 million in revenue. Including new subsidiaries
Primark Decision Economics; DAFSA, a European market research company; and Primark Poland, a software development company; Global Insight was planned to employ about 500, have 30 offices world wide, and have annual revenue of $ 70 million.
219:
Econometric
Forecasting Associates would be the cornerstone of a new company, Strategic Information, which planned to spend tens of millions of dollars in the next five to six years to acquire state of the art computer equipment, according to Dennis O'Brien, who was named COO and Executive Vice President.
308:
and led the acquisition. At the time of the merger, Kasputys, who had previous roles as a senior executive of both WEFA and DRI, said that he had wanted to bring together DRI and WEFA since 1990. Kasputys had also been executive vice president of McGraw-Hill until 1987. At the point of the merger,
136:
Preston served as executive director until the spring of 1975, at which time he was appointed secretary-treasurer of WEFA Inc. During
Preston's tenure as executive director, WEFA Inc not only expanded its sponsorship of the Wharton Quarterly Model , but also developed the Wharton Annual and Industry
237:
April 1, 1987: WEF Associates AG, the parent of
Wharton Econometric Forecasting Associates, announced that it acquired Chase Econometrics from Chase Manhattan Bank N.A., a unit of Chase Manhattan Corp, and that the new entity would be called WEFA-CEIS, Wharton Consulting and Economic Consulting and
218:
June 12, 1980: Ziff-Davis
Publishing Co., a privately held publishing and broadcasting company, purchased Wharton Econometric Forecasting Associates Inc. from the University of Pennsylvania for an undisclosed amount. The University said it retained a minority interest. Ziff announced that Wharton
277:
announced that it would acquire
Primark Corporation. At this point, Primark's key brands included A-T Financial Information, Baseline, Disclosure, Datastream, Global Access, GlobalTOPIC, I/B/E/S, MarketEye, PIMS, WEFA, Worldscope and Vestek. Thomson announced that it was looking at how it could
222:
March 18, 1983: Cie
International de Services en Informatique (CISI), a computer firm owned by the French government, acquires an 80 percent interest in Wharton Econometrics from Ziff Davis Publishing Co, and an option to buy the remaining 20 percent in 1985. At the time, Wharton Econometrics is
128:
In June 1969, when WEFA Inc was incorporated, Lawrence R. Klein was appointed board chairman, Michael D. McCarthy was appointed executive director, and the then Director of the ERU, F. G. Adams, was appointed secretary-treasurer. Other members of the Board were: The Dean of the Wharton School of
258:
January 16, 1997: Primark Corporation, headed by chairman and CEO Joseph E. Kasputys, announced it entered into an agreement to acquire WEFA Holdings Inc. from Bain Capital Inc. and other shareholders in a US$ 45 million cash transaction. According to Primark, WEFA had revenues of about US$ 29
243:
April 11, 1987: Wharton Econometrics and Chase Econometrics agreed to call the merged companies Wharton Economics rather than the originally proposed name, WEFA-CEIS. According to the CEO Lawrence Chimerin, the term "econometrics" was dropped, because the consolidated company would broaden its
115:
Incorporated in 1969 by the Trustees of the University of Pennsylvania as a "not for profit" organization, WEFA Inc was an outgrowth of the Economics Research Unit (ERU) located in the economics department of the University of Pennsylvania. The ERU, a research unit devoted to graduate economics
119:
Among other things, the ERU was originally charged with the maintenance and use of the Wharton Quarterly Model and the Wharton Index of Capacity Utilization. Between 1961 and 1969 the number of sponsors increased to the point where a more efficient organization was needed to manage the many
323:, a Colorado-based public company that supplies information on energy, the environment, security, and product life cycles. The acquisition closed on October 13, 2008 for US$ 165 million, consisting of $ 118 million in cash and IHS common stock valued at $ 47 million. In the announcement,
231:
November 16, 1986: It is announced that WEF Associates, a group of European investors (the Salem family) advised by M Gerard Vila, would acquire CISI Wharton. At the time, CISI Wharton was described as having generated losses of FFr 100m in 1984-85 on revenue of FFr 94m, and employing 200
96:, where Klein taught. WEFA Inc traced an interesting path (see below for full details) from its predecessor in 1961 (the Economic Research Unit, discussed below), its initial launch in 1969 (as Wharton Econometric Forecasting Associates Inc), to its ultimate merger with DRI (formerly
132:
Michael D. McCarthy served as executive director from June 1969 to December 1970. After joining WEFA Inc as Director of Industrial Research in August 1969, Ross S. Preston was appointed a board member and executive director of WEFA Inc in December 1970.
137:
Forecasting Model which integrated input-output theory within the structure of a macro-econometric model. The predecessor of WAIFM was the Brookings Quarterly Model, originally funded by the Social Science Research Council.
327:'s 2008 revenues were reported at an estimated $ 120 million, with an adjusted EBITDA margin in the high single-digits. The deal anticipated the benefits of adding Global Insight to IHS' insight units, including
226:
June 20, 1983: CISI Wharton, part of the French CEA, announces plans to invest US$ 12 million over the next three years to position the newly enlarged entity as one of the world's leading economic forecasters.
268:
Early-1997 to June 1998: Primark holds discussions with several prospective buyers, including Reed Elsevier. Reed Elsevier withdrew its offer while it dealt with a possible merger with Wolters Kluwer.
253:
and focused on investments and acquisitions in the information services marketplace, announced that it had completed the purchase of The WEFA Group. The transaction was later valued at US$ 20 million.
213:
December 18, 1979: It is announced that University of Pennsylvania plans to sell its controlling interest in Wharton Econometric Forecasting Associates, and has held talks with three potential buyers.
259:
million in 1996 and was profitable. It was also reported that in selling WEFA, Information Partners had earned a ninefold return on its August 1994 acquisition. In its press release, Primark said
283:
March 2001: Joseph Kasputys forms Global Insight, Inc. to be a leading company providing business executives, investors and government officials with economic information, analysis and solutions.
488:"CEA Industrie of France, part of Commissariat a l'Energie Atomique, is selling its economic information and forecasting division, CISI Wharton, to WEF Associates of Switzerland",
812:
792:
473:"CISI Wharton, part of the French CEA, is to invest $ 12m over the next 3 years, making the newly enlarged entity one of the world's leading economic forecasters",
207:
June 13, 1969: Wharton Econometric Forecasting Associates is founded as a non-profit organization wholly owned by the Trustees of the University of Pennsylvania.
210:
July 14, 1979: McGraw-Hill announces it plans to buy Data Resources, a major competitor of Wharton Econometric Forecasting Associates for about $ 103 million.
807:
149:
458:"Cie International de Services en Informatique of France has acquired an 80% interest in Wharton Econometrics of Philadelphia, USA from Ziff Davis",
292:
announced it would acquire DRI and WEFA from their respective parent companies to form its first subsidiary, DRI-WEFA Inc. DRI, formerly known as
263:
was named to the new position as WEFA's chief global economist, and that William Mundell would continue as WEFA's president and chief executive.
116:
education, was originally sponsored in 1961 by grants from five US corporations including, IBM, Bethlehem Steel, John Deere, Exxon and Sunoco.
518:
802:
328:
663:"Thomson snaps up U.S. giant Buys major financial information firm Primark for $ 842-million, continuing its makeover into e-powerhouse",
797:
167:
1969 University of Pennsylvania Board of Trustees (WEFA Inc is incorporated and takes over distribution of the Wharton Quarterly Model);
817:
357:
332:
244:
services from econometric modeling to areas such as financial analysis, planning support, and software development.
93:
297:
301:
274:
763:
742:
713:
Loyd, Linda (2001-05-08), "Eddystone, Pa., Economic Research Firm to Merge with Massachusetts Company",
304:, a Toronto diversified information company. Joseph Kasputys was the chairman and main shareholder in
573:
164:
1961-69 Economics Research Unit (University of Pennsylvania) distributes the Wharton Quarterly Model;
293:
145:
97:
522:
194:
2001 Global Insight acquires WEFA-CEIS from The Thomson Corporation and merges it with DRI;
696:
Hilsenrath, Jon (2001-05-07), "McGraw-Hill, Thomson Units Merge to Form Separate Entity",
543:"Wharton's Swiss Parent Buys Chase Econometrics --- A Wall Street Journal News Roundup",
160:
The various organization which acquired the rights to distribute WQM and WAIFM include:
339:
is renamed to IHS Global Insight and reportedly has 700 employees in 25 global offices.
336:
324:
316:
305:
289:
170:
1969 WEFA Inc begins distribution of the Wharton Annual and Industry Forecasting Model;
101:
89:
82:
786:
52:
250:
141:
48:
44:
249:
August 2, 1994: Information Partners, a private investment group affiliated with
300:, a New York publisher and financial services company, while WEFA was a unit of
260:
78:
182:
1987 WEF Associates AG acquires Chase Econometrics, WEFA Inc becomes WEFA-CEIS;
410:"Pennsylvania Univ to sell controlling interest in its Wharton Econometric",
395:"McGraw-Hill announces it plans to buy Data Resources headed by Prof Otto",
74:
144:
project (also housed at WEFA Inc), which produced the world's first global
320:
105:
104:
in 2001, and subsequent to that, Global Insight's acquisition in 2008 by
120:
projects that grew out of the operation of the Wharton Quarterly Model.
382:
University of Pennsylvania, Minutes of the Executive Board of Trustees
176:
1983 Cie International de Services en Informatique acquires WEFA Inc;
312:
2005: Global Insight reportedly generates revenue of US$ 86 million.
625:
623:
428:"ZIFF CORP. PLANS ENTRY INTO FINANCIAL-INFORMATION SYSTEM",
358:"Lawrence Klein: Honoring and Remembering a Model Economist"
185:
1994 Information Partners (Bain Capital) acquires WEFA-CEIS;
191:
2000 The Thomson Corporation acquires Primark Corporation;
71:
Wharton Econometric Forecasting Associates, Inc (WEFA Inc)
612:"Primark Completes Acquisition of WEFA Holdings, Inc",
443:"ZIFF CORP. ACQUIRES WHARTON ECONOMETRIC FORECASTING",
223:
expected to generate revenue of US$ 8 million in 1983.
678:"DRI-WEFA Announces Appointment of Chief Economist",
597:"Primark Corporation to Acquire WEFA Holdings, Inc",
77:forecasting and consulting organization founded by
58:
40:
32:
24:
743:"Global Insight Agrees to be Acquired by IHS Inc"
643:
641:
558:"COMPANY NEWS; Company Returns To Wharton Name",
173:1980 Ziff-Davis Publishing Co. acquires WEFA Inc;
764:"IHS Closes Acquisition of Global Insight, Inc"
490:Textline Multiple Source Collection (1980-1994)
460:Textline Multiple Source Collection (1980-1994)
648:"The Thomson Corporation to Acquire Primark",
503:"WEF ASSOCIATES ACQUIRES CHASE ECONOMETRICS",
691:
689:
592:
590:
8:
423:
421:
188:1997 Primark Corporation acquires WEFA-CEIS;
148:, was mentioned in Klein's citation for the
19:
715:Knight Ridder Tribune Business News - KRTBN
708:
706:
20:Wharton Econometric Forecasting Associates
18:
179:1986 WEF Associates AG acquires WEFA Inc;
150:Nobel Memorial Prize in Economic Sciences
16:American economic consulting organization
813:Defunct macroeconomics consulting firms
793:Defunct companies based in Pennsylvania
348:
319:announces that it will be acquired by
197:2008 IHS Inc. acquires Global Insight.
64:Lawrence R. Klein, Michael D. McCarthy
7:
630:"Thomson Corp. to Acquire Primark",
335:, and IHS Herold's. At this point,
329:Cambridge Energy Research Associates
808:Defunct research and analysis firms
769:. Company press release. 2008-10-13
745:. Company press release. 2008-09-18
28:Economic forecasting and consulting
521:. Time. 1979-06-25. Archived from
14:
727:"Lexington's Eye on the World",
88:WEFA Inc was a spinoff of the
1:
519:"Flash and a Touch of Brash"
296:was at this point a unit of
803:Research and analysis firms
834:
798:University of Pennsylvania
202:General corporate timeline
94:University of Pennsylvania
818:Forecasting organizations
574:"Year End Deal List 1994"
298:The McGraw-Hill Companies
412:New York Times Abstracts
397:New York Times Abstracts
333:Jane's Information Group
698:The Wall Street Journal
545:The Wall Street Journal
430:The Wall Street Journal
302:The Thomson Corporation
275:The Thomson Corporation
505:Dow Jones News Service
445:Dow Jones News Service
576:. Private Equity Week
525:on September 30, 2007
315:September 18, 2008:
294:Data Resources Inc.
156:Distribution rights
146:macroeconomic model
98:Data Resources Inc.
21:
665:The Globe and Mail
560:The New York Times
632:Information Today
362:Knowledge@Wharton
68:
67:
825:
778:
777:
775:
774:
768:
760:
754:
753:
751:
750:
739:
733:
732:
729:The Boston Globe
724:
718:
717:
710:
701:
700:
693:
684:
683:
675:
669:
668:
660:
654:
653:
645:
636:
635:
627:
618:
617:
609:
603:
602:
594:
585:
584:
582:
581:
570:
564:
563:
555:
549:
548:
540:
534:
533:
531:
530:
515:
509:
508:
500:
494:
493:
485:
479:
478:
470:
464:
463:
455:
449:
448:
440:
434:
433:
425:
416:
415:
407:
401:
400:
392:
386:
385:
378:
372:
371:
369:
368:
356:America, North.
353:
22:
833:
832:
828:
827:
826:
824:
823:
822:
783:
782:
781:
772:
770:
766:
762:
761:
757:
748:
746:
741:
740:
736:
726:
725:
721:
712:
711:
704:
695:
694:
687:
677:
676:
672:
662:
661:
657:
647:
646:
639:
629:
628:
621:
611:
610:
606:
596:
595:
588:
579:
577:
572:
571:
567:
557:
556:
552:
542:
541:
537:
528:
526:
517:
516:
512:
502:
501:
497:
487:
486:
482:
472:
471:
467:
457:
456:
452:
442:
441:
437:
427:
426:
419:
409:
408:
404:
394:
393:
389:
380:
379:
375:
366:
364:
355:
354:
350:
346:
204:
158:
126:
113:
61:
17:
12:
11:
5:
831:
829:
821:
820:
815:
810:
805:
800:
795:
785:
784:
780:
779:
755:
734:
719:
702:
685:
670:
655:
637:
619:
604:
586:
565:
550:
535:
510:
495:
480:
465:
450:
435:
417:
402:
387:
373:
347:
345:
342:
341:
340:
337:Global Insight
325:Global Insight
317:Global Insight
313:
310:
306:Global Insight
290:Global Insight
285:
284:
280:
279:
273:June 5, 2000:
270:
269:
265:
264:
255:
254:
246:
245:
240:
239:
234:
233:
228:
227:
224:
220:
215:
214:
211:
208:
203:
200:
199:
198:
195:
192:
189:
186:
183:
180:
177:
174:
171:
168:
165:
157:
154:
125:
122:
112:
109:
102:Global Insight
90:Wharton School
83:Lawrence Klein
66:
65:
62:
59:
56:
55:
42:
38:
37:
34:
30:
29:
26:
15:
13:
10:
9:
6:
4:
3:
2:
830:
819:
816:
814:
811:
809:
806:
804:
801:
799:
796:
794:
791:
790:
788:
765:
759:
756:
744:
738:
735:
730:
723:
720:
716:
709:
707:
703:
699:
692:
690:
686:
681:
674:
671:
666:
659:
656:
651:
650:Business Wire
644:
642:
638:
633:
626:
624:
620:
615:
608:
605:
600:
593:
591:
587:
575:
569:
566:
561:
554:
551:
546:
539:
536:
524:
520:
514:
511:
506:
499:
496:
491:
484:
481:
476:
469:
466:
461:
454:
451:
446:
439:
436:
431:
424:
422:
418:
413:
406:
403:
398:
391:
388:
383:
377:
374:
363:
359:
352:
349:
343:
338:
334:
330:
326:
322:
318:
314:
311:
307:
303:
299:
295:
291:
288:May 7, 2001:
287:
286:
282:
281:
276:
272:
271:
267:
266:
262:
257:
256:
252:
248:
247:
242:
241:
236:
235:
230:
229:
225:
221:
217:
216:
212:
209:
206:
205:
201:
196:
193:
190:
187:
184:
181:
178:
175:
172:
169:
166:
163:
162:
161:
155:
153:
151:
147:
143:
138:
134:
130:
123:
121:
117:
110:
108:
107:
103:
99:
95:
91:
86:
84:
80:
76:
72:
63:
57:
54:
53:United States
50:
46:
43:
39:
35:
31:
27:
23:
771:. Retrieved
758:
747:. Retrieved
737:
731:, 2006-06-01
728:
722:
714:
697:
682:, 2001-05-17
679:
673:
667:, 2000-06-06
664:
658:
652:, 2000-06-05
649:
634:, 2000-07-01
631:
616:, 1997-02-07
613:
607:
601:, 1997-01-16
598:
578:. Retrieved
568:
562:, 1987-04-11
559:
553:
547:, 1987-04-02
544:
538:
527:. Retrieved
523:the original
513:
507:, 1987-04-01
504:
498:
492:, 1986-11-16
489:
483:
477:, 1983-06-20
474:
468:
462:, 1983-03-18
459:
453:
447:, 1980-06-12
444:
438:
432:, 1980-06-18
429:
414:, 1979-12-18
411:
405:
399:, 1979-07-14
396:
390:
384:, 1969-06-13
381:
376:
365:. Retrieved
361:
351:
251:Bain Capital
159:
139:
135:
131:
127:
118:
114:
87:
70:
69:
49:Pennsylvania
45:Philadelphia
41:Headquarters
680:PR Newswire
614:PR Newswire
599:PR Newswire
261:Allen Sinai
79:Nobel Prize
787:Categories
773:2008-10-19
749:2008-10-19
580:2007-05-05
529:2007-05-05
367:2021-05-23
344:References
124:Leadership
100:) forming
60:Key people
475:Les Echos
152:in 1980.
75:economics
321:IHS Inc.
106:IHS Inc.
25:Industry
232:people.
111:Origins
92:of the
81:winner
73:was an
33:Founded
767:(PDF)
142:LINK
140:The
36:1969
789::
705:^
688:^
640:^
622:^
589:^
420:^
360:.
331:,
85:.
51:,
47:,
776:.
752:.
583:.
532:.
370:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.