Bloomberg moves into government sector

Posted by Savita Sauvin on February 25, 2010 at 4:07 PM

Following last week's acquisition of government data and analysis firm Eagle Eye Publishers by Bloomberg LP, rumours that the financial news giant wants to create a Bloomberg Government business to be named "Bgov" seem to be supported, Washington Technology reported.

Bgov would likely focus on the impact of government actions on publicly traded companies. The enterprise is expected to compete with the likes of Congressional Quarterly and would also potentially compete with similar data service providers, like research firms Input and Fedsources.

This has been the company's third acquisition in the recent months, after Business Week was purchased late last year, and New Energy Finance, a UK-based green/energy publisher, paidContent reported. This news seems to back up the rumoured reports of Bloomberg's US$100 million push into government news and data. However, terms of the deal have not been disclosed by either parties.

Mark Amtower first reported the news, last Wednesday, on his Amtower B2G blog and commented that, Onvia, Federal Sources, Input, Carroll Publishing and others now have another competitor, and maybe Washington Technology and WFED will have a new advertiser.