News Corp has agreed to buy the Oil Price Information Service, a leading energy data and analytics specialist, from IHS Markit in a $1.15 billion all-cash deal.
Last year S&P Global agreed to buy IHS Markit for $44 billion, creating a financial information powerhouse. The planned combination prompted the two companies to explore a sale of some assets after discussions with regulators.
The deal with News Corp, which owns publications including The Times, The Sunday Times, The Sun and The Wall Street Journal, will add to its growing portfolio of investment-focused businesses.
The transaction will generate an estimated tax benefit of $180 million for News Corp, the company said.
Established in 1977, the Oil Price Information Service provides pricing data, news and analysis
Read More: News Corp adds oil industry data specialist to its stable | Business