OPIS Acquires GasBuddy
GAITHERSBURG, Md.— GasBuddy, the popular mobile application (app) and website that provides comprehensive gasoline pricing information at service stations and convenience stores across the U.S. and Canada, was acquired by Oil Price Information Service (OPIS).
OPIS, a subsidiary of UCG, is a provider of worldwide petroleum pricing and news information.
"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.
Toews was equally upbeat about GasBuddy’s new owner. "We are excited to gain access to OPIS' enormous database of spot and wholesale gasoline prices and its award-winning daily newswire," said Toews. "That access will further enhance GasBuddy's ability to alert consumers to retail gasoline and diesel price changes in the marketplace."
OPIS plans to 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.
Horizon Partners served as financial advisor to GasBuddy in this transaction.