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News Corp, the news and media conglomerate headed by Rupert Murdoch, will pay $1.15 billion in cash for Oil Price Information Service (OPIS), a deal that will expand its business-to-business digital information portfolio and continues its recent M&A streak.

OPIS, which News Corp is acquiring from S&P Global and IHS Markit, will become part of Dow Jones’ Professional Information Business (PIB), which includes Dow Jones Risk & Compliance, Dow Jones Newswires and Factiva. S&P Global and IHS Markit merger had previously announced plans to sell off OPIS to get approval for their own merger, expected to close in Q4 of this year.

Founded in 1977, OPIS provides benchmark and reference pricing and news and analytics for the oil, natural gas liquids and biofuels industries, as well as in renewable energy and carbon pricing.

OPIS’s revenue base is almost 100% digital, and 95% of it is recurring. They company says it has adjusted EBITDA margins in the 50% range. For its current fiscal year (ending Nov. 30, 2021), OPIS is expected to generate approximately $129 million in revenues, with adjusted EBITDA growing at a faster rate.

“OPIS will be the cornerstone for a rising commodities, energy and renewables digital business that we are convinced will have a positive impact on Dow Jones and News Corp,” News Corp CEO Robert Thomson said in a statement.

News Corp’s acquisition of OPIS is subject to customary closing conditions, including regulatory approvals. OPIS, based in Rockville, Md., also has offices in Mexico, the U.K., France, Romania and Singapore. The company has about 400 employees.

Earlier this year, News Corp announced deals to buy Investor’s Business Daily for $275 million and Houghton Mifflin Harcourt’s books and media segment for $349 million in cash (which it plans to combine with HarperCollins Publishers).