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Ihs Announces Intent To Acquire Oil Price Information Service (Opis), A Premier Provider Of Petroleum Pricing, News And Analytics ENGLEWOOD, Colo.

The following excerpt is from the company's SEC filing.

(January 11, 2016) IHS Inc. (NYSE: IHS), the leading global source of critical information and insight, has signed a definitive agreement to acquire Oil Price Information Service (OPIS), an internationally referenced pricing reporting agency that serves the oil, natural gas and biofuels industries, for $650 million.

The acquisition is subject to regulatory approval, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. More details will be provided on the IHS fourth quarter and year-end 2015 earnings call on January 12, 2016.

OPIS is the most complete source for U.S. refined petroleum pricing data, news and analytics. OPIS information primarily serves the downstream energy market and helps to further diversify the IHS Energy portfolio.

The acquisition of OPIS represents a new area of business for IHS and gives IHS visibility across the entire petroleum value chain, from wellhead to consumer, said Jerre Stead, IHS chairman and chief executive officer. OPIS has continued to grow through the challenges in the energy markets due to the must-have nature of its information and analysis for commercial contracts and to settle trades. Specifically, OPIS is the leader in the rack and retail downstream refined products pricing and it also has a strong position in the spot market. We expect to continue to see strong growth in these areas as well as future growth contributions from International downstream spot-market pricing.

OPIS, along with our recently announced acquisition of CARPROOF, both provide IHS with high EBITDA margin and strong organic growth, Stead added.

OPIS began covering petroleum news in 1977 with the launch of the award-winning

Oil Express Newsletter.

OPIS later pioneered rack price discovery for thousands of wholesalers, and now maintains the worlds most comprehensive database of...