Dow Jones today announced it has completed the acquisition of Dragonfly Intelligence, a geopolitical and security intelligence provider, and Oxford Analytica, a provider of geopolitical intelligence advisory services. Dow Jones acquired the two companies from FiscalNote Holdings, Inc. (NYSE: NOTE) for $40 million. Dow Jones' parent company, News Corp, expects to receive a $4 million tax benefit in connection with the transaction.

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. The strategic acquisition is the latest in a series aimed at building Dow Jones’s portfolio of specialized news, data, analysis and events for business professionals.

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. With offices in London and Singapore, 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. The company draws on a worldwide network of experts to deliver trusted global insights and seasoned judgments on global issues, and to advise clients on strategies, operations, policies and investments.

“The addition of Dragonfly Intelligence and Oxford Analytica to our Dow Jones Risk & Compliance portfolio will enhance our ability to provide essential, reliable news and information to businesses navigating the increasingly complex geopolitical and economic landscape,” said Almar Latour, CEO of Dow Jones and Publisher of The Wall Street Journal. “More than ever, businesses and executives need support, and Dow Jones stands ready to deliver with a growing roster of world-class tools and services.”

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. The company also acquired WorldECR, a provider of news, data and analysis on global export control and trade sanctions, and expanded its ownership stake in Ripjar, a global data intelligence software provider, last year.

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 served as legal counsel to Dow Jones on this transaction.

About Dow Jones

Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world’s largest news-gathering operations globally. It is home to leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Barron’s, MarketWatch, Mansion Global, Financial News, Investor’s Business Daily, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, OPIS and Chemical Market Analytics. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).

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