(Bloomberg) -- Kpler SAS, a French provider of data and analytics to commodities traders, bought New York-based ClipperData LLC to expand in the U.S.

The move is one of the first major acquisitions in an increasingly crowded market for commodity technology and intelligence, with demand growing for data on cargo flows, trades and inventories worldwide.

“The space has been demanding consolidation,” Francois Cazor, chief executive officer of Paris-based Kpler, said in an interview, without disclosing financial terms of the deal. “The U.S. will become the biggest market for us in terms of basically any metric: number of clients, data sources, number of users.”

The acquisition gives the company access to Clipper’s data sets and analysis on global crude, grain and refined-product flows. It expects to retain about three-quarters of Clipper’s staff of around 45. 

Kpler’s annual recurring revenue should climb to $100 million in the “coming years” from almost $40 million currently, according to Cazor. 

Bloomberg LP, the parent of Bloomberg News, competes with Kpler and ClipperData in providing financial analytics and information.

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