Telvent acquires DTN

By | November 03, 2008
Telvent GIT SA has acquired DTN Holding Inc. for $445 million, a move that will increase the Spain-based information systems provider's presence in North America and provide DTN with a platform to expand globally. DTN will maintain its employee and service base that provides commodity information and specialized weather forecasts. In the energy sector, DTN tracks the buying and selling of various refined fuels, providing pricing information to the industry and handling credit authorizations. Telvent will explore ways to add DTN's weather forecasting to its automated control systems, and add the agricultural sector to its business. Telvent is a sister company of biofuel producer Abengoa Bioenergy Corp.