Platts agrees to acquire OPIS
Dec 13, 2010 3:12 PM
Platts, a global provider of energy and metals information and a division of The McGraw-Hill Companies Inc, announced an agreement to acquire Oil Price Information Service LLC (OPIS) from United Communications Group (UCG), a privately held business information provider.
OPIS, headquartered in Gaithersburg MD, is a provider of news and price information to the wholesale and retail petroleum markets in North America. The purchase price was not disclosed. This acquisition is expected to be completed in the first half of 2011, subject to regulatory approval.
“OPIS is a great complement to Platts. It supports our growth strategy by expanding our presence in North America and extending our price reporting into the wholesale and retail petroleum markets,” said Larry Neal, president of Platts. “The combination of Platts and OPIS data will bring greater transparency to the markets by giving customers greater insight into the petroleum supply chain—from crude trading to retail sales.”
Neal said Platts expects to maintain OPIS’ products and services.
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