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News Corp to buy oil data firm Opis in $1.15bn deal

By Frank Prenesti

Date: Monday 02 Aug 2021

News Corp to buy oil data firm Opis in $1.15bn deal

(Sharecast News) - News Corp has agreed to acquire US oil pricing agency Oil Price Information Service (OPIS) and related assets from S&P Global and IHS Markit for about $1.15bn, the media conglomerate said on Monday.
OPIS is a price reporting agency that provides information used for commercial contracts and to settle trades, and it is mainly known for its activities in the US.

S&P Global and IHS Markit in May announced plans to divest the business as part of their merger, expected in the fourth quarter of this calendar year.

Founded in 1977, OPIS provides benchmark and reference pricing and news and analytics for the oil, natural gas liquids and biofuels industries, and more recently insights and analytics in renewables and carbon pricing.

Headquartered in Rockville, Maryland, OPIS also has offices in Mexico, the United Kingdom, France, Romania and Singapore. The company employs approximately 400 professionals globally.

It will become part of Dow Jones' Professional Information Business (PIB), which includes Dow Jones Risk & Compliance, Dow Jones Newswires and Factiva, News Corp said in a statement.

The deal is expected to close in the fourth quarter of this year, marking the company's third buyout deal this year.

"OPIS will be the cornerstone for a rising commodities, energy and renewables digital business that we are convinced will have a positive impact on Dow Jones and News Corp," said News Corp chief executive Robert Thomson.

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