Canada’s ZEMA Global Data Corp. is acquiring Morningstar Commodity Data in a deal that will combine the two commodity and energy data management providers, the companies said on Sept. 23.

Financial terms of the deal were not disclosed.

Chicago-based Morningstar Commodity Data will add complementary capabilities to ZEMA’s offerings, allowing ZEMA to meet growing demand for data and analytics due to the global energy transition, ZEMA CEO Andrea Stone said in a press release.

ZEMA will continue to work with supply chain-intensive corporates, independent traders, energy and physical commodities, but will now expand into financial markets with Morningstar’s additions in real-time data and a multi-tenant public cloud distribution platform.

“We’ve built a world-class team that is focused on delivering the energy and commodities data that our clients need. As Morningstar shifts its focus away from this area, I am confident that we’ve found the right place for the Morningstar Commodity Data team to flourish,” said James Rhodes, president of data, research and enterprise solutions for Morningstar.

The acquisition comes following ZEMA’s securement of a significant growth equity investment from FTV Capital in July.

“In its next expansion phase supported by FTV Capital’s investment, ZEMA will broaden its capabilities and customer support worldwide, advance product development and further innovate its analytics and automation solutions,” FTV Capital had said in its July 9 press release about the investment.

Kirkland & Ellis, KPMG, Oliver Wyman and D.A. Davidson served as advisers to FTV Capital and ZEMA on the deal.

The transaction is expected to close in late September.

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