Oil Price Information Service acquired GasBuddy, a mobile application that tracks gasoline prices.
People use Brookly Park, Minn.-based GasBuddy to share gas prices they see during their daily commutes to help others find low gas prices.
Oil Price Information, headquartered in Gaithersburg, Md., provides petroleum pricing and news information. The company also provides software services for petroleum marketers that want to automate price collection and data storage through its subsidiary, Axxis Software.
Horizon Partners served as Gas Buddy and OpenState’s financial adviser for the deal. Terms were not disclosed.