OPIS Acquires GasBuddy
Oil Price Information Service (“OPIS”) has acquired GasBuddy, the mobile app and website relied on by more than 26 million motorists to pinpoint the most comprehensive and accurate gasoline prices at service stations and convenience stores across the U.S. and Canada.
OPIS, a subsidiary of UCG, is a leading source for worldwide petroleum pricing and news information. They share spot prices for all refined products, more than 30,000 wholesale gasoline and diesel rack prices and over than 110,000 retail fuel prices. Through its subsidiary, Axxis Software, OPIS also provides leading-edge software solutions for petroleum marketers looking to automate price collection, data storage and re-pricing of dealer and commercial accounts.
“Through our combined resources, consumers will have the very best retail fuel prices, tools and information to save money at the pump,” said OPIS CEO Brian Crotty. “I look forward to working shoulder-to-shoulder with Dustin Coupal and Jason Toews, co-founders of GasBuddy, and their talented staff,” he added.
With the release of the first GasBuddy website in June 2000 a monumental change began in the way that people shop for gasoline. Ever since, thousands of people have been regularly visiting GasBuddy LLC websites where they post gas prices and identify the lowest priced fuel in the area – helping everyone to save money at the pumps.
“We are excited to gain access to OPIS’s enormous database of spot and wholesale gasoline prices and OPIS’ award-winning daily news wire,” said GasBuddy co-founder Jason Toews. “That access will further enhance GasBuddy’s ability to alert consumers to retail gasoline and diesel price changes in the marketplace.”
OPIS will also accelerate investment in GasBuddy’s “OpenStore” software, which enables convenience stores to reach their customers with highly targeted value offerings. “Expanding the couponing features of this platform will provide discounts to consumers for a host of products and services sold at service stations and convenience stores,” Crotty added.
AMR’s Energy Information team successfully advised UCG / OPIS in its acquisition of GasBuddy. The leading market-based strategy consultancy firm have a proven track record in combining customer understanding and analysis with deep knowledge in their core sectors, to deliver a truly insightful view of growth and M&A opportunities around the globe. Jay Patel, Director at AMR’s London office and head of AMR’s B2B information practice, led AMR’s dedicated consultancy team.
Advisor to UCG / OPIS
Jay Patel, Director at AMR Energy Information’s London Office:
“AMR worked closely with both UCG and OPIS to assess and test the sustainability of GasBuddy’s business model and strategic growth initiatives. AMR’s sector expertise and ability to earn target management buy-in was crucial to the efficient delivery of a detailed and strategic assessment and resulting findings helped UCG and OPIS gain comfort in the robustness of GasBuddy’s business model and strategic plan.”