Dow Jones today announced it has agreed to acquire Dragonfly Intelligence, a geopolitical and security intelligence provider, and Oxford Analytica, a provider of geopolitical intelligence advisory services from FiscalNote Holdings, Inc., for $40 million. The 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 to receive a $4 million tax benefit in connection with the transaction.

This is the latest in a series of strategic acquisitions and investments aimed at bolstering 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. 

With offices in London and Singapore, 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. 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, helping businesses navigate complex markets and stay ahead of the geopolitical and macroeconomic developments impacting their organizations. Drawing on a worldwide network of experts, the company delivers trusted global insights and seasoned judgments on global issues, and advises clients on strategies, operations, policies and investments.

"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," said Almar Latour, CEO of Dow Jones and Publisher of The Wall Street Journal. "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."

This acquisition comes at a time of continued growth and expansion for Dow Jones Risk & Compliance. 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. Additionally, 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. 

These investments underscore the importance of the risk and compliance business to Dow Jones, as well as the company's commitment to becoming a vital information service provider for the growing risk and compliance community. Baker & Hostetler LLP is serving as legal counsel to Dow Jones on this transaction.