Latest acquisition advances Dow Jones's energy business with industry-leading artificial intelligence (AI) capabilities
NEW YORK, July 2, 2024 /PRNewswire/ -- Dow Jones announced that it has acquired A2i Systems, a world leader in AI-powered fuel pricing solutions.
A2i adds to Dow Jones's growing suite of AI capabilities and will operate as a subsidiary of OPIS within Dow Jones's energy business, maintaining its focus on innovation and product development. A2i's best-in-class AI engine applies advanced predictive technologies and real-time pricing data to forecast consumer buying behaviors in dynamic market conditions. Its PriceCast platform is in operation at over 12,500 fuel sites, electric vehicle (EV) charging stations and convenience stores across 20+ countries globally.
A2i joins Dow Jones at a time of continued growth and expansion as a leading business news and information business. In its latest reported earnings, Dow Jones revenues totaled $544 million, which included 15% growth in its energy business.
Headquartered in Odense, Denmark, A2i has a strong track record of growth and a broad geographical footprint across Europe and North America. With this acquisition, OPIS will substantially diversify and strengthen its suite of offerings for retail customers, where market demand for pricing, analysis and forecasting is growing rapidly.
"The business and teams we are welcoming to our company today have built one of the most trusted, ethically sound AI platforms in the industry," said Almar Latour, CEO of Dow Jones. "This knowledge and expertise is an excellent companion to OPIS, enabling us to create immediate value for our customers and subscribers. Our shared commitment to integrity and innovation with AI open a range of growth opportunities not only for our energy vertical but for Dow Jones writ large."
"We're thrilled to welcome A2i to our team," added Brian Crotty, general manager of Dow Jones's energy business. "Since 2007, A2i has been a pioneer in applying leading-edge technologies to optimize fuel pricing strategies. This move will strengthen our position within the evolving retail sector, helping our customers tap into the booming EV market and navigate their transition from traditional fuel-first forecourts into multi-purpose mobility hubs."
Frodi Hammer, A2i founder and CEO added: "Joining forces with OPIS, a brand that is trusted across the fuel supply chain for its market-leading news, data and analysis, presents an amazing opportunity to scale our technology and impact. Today marks the start of an exciting new chapter and we are confident that the team will flourish as part of OPIS and the wider Dow Jones organization and continue pushing forward with innovation."
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))).
About OPIS
OPIS, a Dow Jones company, provides accurate pricing, real-time news and expert analysis across the global fuel supply chain, including the Spot, Wholesale Rack and Retail markets. OPIS and its brands, McCloskey, PetroChem Wire, Axxis and Chemical Market Analytics, enable customers to buy and sell energy commodities with confidence across the globe via easy access to transparent data, expert-level customer support, educational events and energy data solutions.
OPIS assessments reflect confirmed bids, offers and trades reported by approved traders, brokers and electronic platforms. Full details about OPIS pricing methodologies are available at opisnet.com/about/methodology.
About A2i
A2i Systems is a provider of PriceCast, a retail pricing solution for fuel, EV and convenience stores, trusted by some of the biggest retailers in the industry. By combining a proprietary self-learning AI with real-time data streams, PriceCast provides unprecedented insights into market dynamics helping retailers to empower their network and brand values to meet their business goals.
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SOURCE Dow Jones & Company, Inc.