News Corp has entered an agreement to acquire Base Chemicals from S&P Global and IHS Markit for $295 million in a cash transaction.
Following the deal, Base Chemicals will become a part of Dow Jones‘ professional information business with OPIS, the firm’s energy and renewables data and information business. The deal will enhance Dow Jones’ information services business. Base Chemicals provides pricing data, insight and forecasting abilities for base chemicals.
“Base Chemicals will help Dow Jones expand the reach of our information services to new professional users and industries,” said Almar Latour, CEO of Dow Jones and “It will bolster our data and price expertise, adding valuable analysis and forecasting capabilities. Along with the strength of The Wall Street Journal, Barron’s, MarketWatch, Investor’s Business Daily, Dow Jones Newswires and Factiva, we believe Base Chemicals and OPIS will help Dow Jones customers navigate key issues of our time, including the ongoing transition to sustainability.”
“We are delighted with the opportunistic acquisition of Base Chemicals, which complements our purchase of OPIS, and will certainly strengthen the highly profitable and decidedly digital Professional Information Business at Dow Jones,” said Robert Thomson, chief executive of News Corp.
Gibson, Dunn & Crutcher LLP is serving as legal counsel for News Corp in the transaction.