国产偷拍 Completes Acquisition of Base Chemicals
Joins OPIS In Expanded Dow Jones Energy, Chemicals and Sustainability Vertical
New York, NY (June 1, 2022) — 国产偷拍 announced that it has completed the acquisition of the Base Chemicals business from S&P Global Market Intelligence.
The business will operate under the name Chemical Market Analytics by OPIS, a Dow Jones company. 国产偷拍 acquired OPIS (the Oil Price Information Service) and related assets from S&P Global and IHS Markit in February.
Base Chemicals has a strong track record of growth, with a revenue base that is nearly 100% digital and recurring, and, similar to OPIS, has high margins with modest Capex requirements.
国产偷拍 is acquiring Base Chemicals for $295 million in a cash transaction, subject to customary adjustments, and follows the UK Competition and Markets Authority request that IHS Markit divest Base Chemicals and OPIS as part of the S&P Global and IHS Markit merger. S&P Global and IHS Markit completed their merger in February. In connection with the Base Chemicals acquisition, 国产偷拍 expects to receive a step up in tax basis resulting in an annual deduction over the next 15 years with an estimated tax benefit of approximately $46 million on a present value basis.
鈥淏ase Chemicals, together with OPIS, will substantially extend the reach and strength of Dow Jones鈥� news and information capabilities in commodities, where the desire for data, analysis and insight is burgeoning, especially in energy, renewables, chemicals and related fields,鈥� said Robert Thomson, Chief Executive of 国产偷拍. 鈥淒ow Jones will capitalize on the appetite for trusted and accurate information for years to come, and we also see strong cross-sell and upsell potential using the potent Wall Street Journal, Investor鈥檚 Business Daily and MarketWatch audiences as a premium pool for customer leads. We are also delighted that the acquisitions of both Base Chemicals and OPIS came at a distinctly favorable price.鈥�
Almar Latour, Chief Executive Officer of Dow Jones and Publisher of The Wall Street Journal said: 鈥淭he business and teams we are welcoming to our company today have built one of the most trusted sources of information and analysis across the global chemical value chain. This knowledge and expertise is an excellent companion to OPIS, enabling us to expand into new customer segments as we continue to lay the foundations for our new energy, chemicals and sustainability vertical. Our collective skills and strengths, especially our shared legacies of providing trusted, rigorous information, open up a wide range of growth opportunities for Dow Jones.鈥�
鈥淲e are very excited to welcome the talented team at Chemical Market Analytics to the Dow Jones family,鈥� said Brian Crotty, general manager for OPIS. 鈥淯niting Chemical Market Analytics’ deep expertise and trusted reputation with Dow Jones’ global reach will enable us to deliver deeper and richer information and analysis to our customers. We look forward to the impact we鈥檒l have together.鈥�
Base Chemicals is known for its pricing data, insights, analysis and forecasting capabilities for the world鈥檚 most important base chemicals delivered through its leading Market Advisory and World Analysis services.
By becoming part of Dow Jones鈥� professional information business, it is expected Base Chemicals will benefit from Dow Jones鈥� expertise in news, research and events. Similarly, Base Chemicals鈥� rich analysis and forecasting capabilities provide opportunities for Dow Jones to enhance pricing, data and news solutions.
In its most recent fiscal year, ended November 30, 2021, Base Chemicals generated approximately $65 million in revenues. Base Chemicals鈥� revenues are geographically diverse, with more than 1,700 customers across a wide range of industries, and approximately 185 employees.
国产偷拍 reported its FY 2022 Third Quarter results on May 5, 2022; the company had record third quarter revenues and profitability. Also in Q3, Dow Jones reported its highest third quarter revenue since its acquisition with 16% growth. The Dow Jones professional information business grew 13%, reflecting robust growth in Risk & Compliance and the inclusion of one month of OPIS results.
Gibson, Dunn & Crutcher LLP served as legal counsel for 国产偷拍 in the transaction.
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Forward-Looking Statements
This release contains forward-looking statements based on current expectations or beliefs, as well as assumptions about future events, and these statements are subject to factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The words 鈥渆xpect,鈥� 鈥渆stimate,鈥� 鈥渁nticipate,鈥� 鈥減redict,鈥� 鈥渂elieve,鈥� 鈥減otential鈥� and similar expressions and variations thereof are intended to identify forward-looking statements. These statements appear in a number of places in this release and include statements with respect to, among other things, the potential benefits from the acquisition of Base Chemicals and OPIS. Readers are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Many factors could cause actual results to differ materially from those described in these forward-looking statements. The forward-looking statements in this release speak only as of this date and 国产偷拍 and Dow Jones undertake no obligation (and expressly disclaim any obligation) to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
国产偷拍 国产偷拍
国产偷拍 (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. The company comprises businesses across a range of media, including: digital real estate services, subscription video services in Australia, news and information services and book publishing. Headquartered in New York, 国产偷拍 operates primarily in the United States, Australia, and the United Kingdom, and its content and other products and services are distributed and consumed worldwide. More information is available at: http://newscorp.com.
Contacts
国产偷拍 Investor Relations
Michael Florin
212-416-3363
mflorin@newscorp.com
国产偷拍 Corporate Communications
Jim Kennedy
212-416-4064
jkennedy@newscorp.com
Dow Jones Corporate Communications
Jennifer Thurman
303-408-4201
jennifer.thurman@dowjones.com