WSJ parent agrees to buy two intelligence companies

Dow Jones & Co., the parent of The Wall Street Journal, Barron’s and MarketWatch.com has agreed to acquire two intelligence firms for $40 million to expand its risk and compliance business.

It is buying Dragonfly Intelligence, a geopolitical and security intelligence provider, and Oxford Analytica, a provider of geopolitical intelligence advisory services from FiscalNote Holdings Inc.

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.

Dragonfly and Oxford Analytica will operate as part of Dow Jones Risk & Compliance, a provider of geopolitical risk and security intelligence services, 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. Founded in 1975 and based in the UK, Oxford Analytica is a 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 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,” said Almar Latour, CEO of Dow Jones and publisher of The Wall Street Journal, in a statement.