Dow Jones has agreed to acquire Dragonfly Intelligence, a geopolitical and security intelligence provider, and Oxford Analytica, a geopolitical intelligence advisory services provider from FiscalNote Holdings, for $40 million.
This acquisition is expected to close in the first quarter of 2025 and is subject to regulatory approval in Austria and customary closing conditions. Dow Jones’s parent company, News Corp, expects a $4 million tax benefit in connection with the transaction.
This is the latest in a series of strategic acquisitions and investments to support Dow Jones’s portfolio of specialized news, data, analysis and events for business professionals. Dragonfly and Oxford Analytica will operate as part of Dow Jones Risk & Compliance, complementing its existing product suite with proprietary geopolitical risk and security intelligence, which has seen increasing demand due to heightened international tensions and trade complexity.
Dragonfly provides geopolitical and security intelligence to crisis management, security, and risk professionals, helping decision-makers at multinational companies, financial institutions, and public sector entities solve complex business and operational challenges. And the company delivers real-time intelligence on potential and ongoing security risks, including early warning detection and forecasting to anticipate threats, risk rating systems around potential major disruptions, and personalized access to key analysts.
Founded in 1975 and based in the UK, Oxford Analytica is a leading provider of macroeconomic and geopolitical risk analysis. It helps businesses navigate complex markets and stay ahead of the geopolitical and macroeconomic developments impacting their organizations. Tapping into a worldwide network of experts, the company delivers trusted global insights and seasoned judgments on international issues and advises clients on strategies, operations, policies, and investments.
This acquisition comes at a time of continued growth and expansion for Dow Jones Risk & Compliance. And in its fiscal year 2024 earnings, revenue for the business grew 16% year over year to nearly $300 million, driven by continued growth from its data products and services. Plus, Dow Jones recently acquired WorldECR, a provider of news, data and analysis on global export control and trade sanctions, and announced an expansion in its ownership stake in Ripjar, a global data intelligence software provider.
Baker & Hostetler is serving as legal counsel to Dow Jones on this transaction.
KEY QUOTE:
“The world is experiencing rapid change, evolving at a pace unlike anything witnessed in our lifetime–from technological advancements and shifting geopolitics to changes in the global economy. As a result, more companies and professionals are turning to us for the facts and analysis they need to navigate an increasingly complex landscape. The additions of Dragonfly and Oxford Analytica to our business will allow us to further support our customers in assessing geopolitical risks, building on the news, data, analysis and convening power we already provide through our Dow Jones Risk & Compliance service and our daily news coverage.”
– Almar Latour, CEO of Dow Jones and Publisher of The Wall Street Journal
