NEW YORK, June 14, 2022 (GLOBE NEWSWIRE) — Dow Jones today announced that OPIS, a Dow Jones company, has signed an asset purchase agreement to acquire solar panel pricing, market reporting and associated data assets from the Singapore Solar Exchange Pte Ltd (SSX). The deal is expected to close in early July 2022.
OPIS provides leading news, analytics and price benchmarking for energy, carbon, commodities, chemicals and other raw materials. With this acquisition, OPIS will expand its offering to the solar panel sector to provide current and forward-looking photovoltaic (PV) pricing data and market analysis. Widely recognized as a global industry standard for benchmark and reference pricing for the energy industry, OPIS will also leverage its expertise as a price reporting agency to enable the creation of globally accepted benchmarks in the solar panel value chain, including polysilicon, solar wafers, solar cells and photovoltaic panels.
Almar Latour, chief executive officer of Dow Jones and publisher of The Wall Street Journal said, “Dow Jones’s mission is to provide the world’s most trusted source of journalism, data and analysis to help people make decisions. This acquisition extends the reach of that mission and is another example of our strategic pursuit of opportunities to grow and leverage our price rating agency expertise. Adding solar panel pricing to our data set bolsters our energy, chemicals and sustainability vertical as we focus on helping customers navigate the ongoing shift from traditional energy to renewables.”
“We are delighted to expand our trusted expertise into the solar panel pricing arena to help customers navigate the energy transition,” said Brian Crotty, general manager for OPIS. “There is growing interest from the industry for accurate and reliable price reporting standards for renewables pricing. We are excited to support that effort with this acquisition and will pursue IOSCO compliance (International Organization of Securities Commissions) for relevant parts of this business.”
Sakura Yamasaki, founder and chief executive officer at Singapore Solar Exchange, said, “I am thrilled about the announcement of this transaction, which paves the way for the global transition to cleaner energy. Over the past 12 years, SSX has established itself as a reliable and unbiased provider of solar market intelligence and price information. OPIS has an unparalleled track record and expertise in providing bankable price benchmarks in the energy markets. Together, we can enable the creation of a solar panel futures segment that will offer much-needed price visibility, transparency and risk-mitigating mechanisms to solar project stakeholders globally.”
Dow Jones and News Corp acquired OPIS and related assets from S&P Global and IHS Markit in February 2022. In News Corp’s FY 2022 third quarter results, Dow Jones reported its highest third quarter revenue since its acquisition with 16% growth. The Dow Jones professional information business grew 13%, reflecting the inclusion of one month of OPIS results.
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 produces leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Factiva, Barron’s, MarketWatch, Mansion Global, Financial News, Dow Jones Risk & Compliance and Dow Jones Newswires. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).
Read More: OPIS, a Dow Jones Company, to Acquire Pricing Data Assets