By Dean Seal
Shares of FiscalNote Holdings advanced after the company said it would sell its Oxford Analytica and Dragonfly businesses to News Corp subsidiary Dow Jones for $40 million.
The stock was up 5% at $1.47 in early trading on Monday. Shares have gained 38% since the start of the year.
The software company said that it would sell the two segments, which operate within its global intelligence division, as it shifts focus to its core policy platform.
The deal is expected to close in the first quarter and provide FiscalNote with capital to reduce its debt load.
News Corp owns Dow Jones & Co., publisher of this newswire, and The Wall Street Journal.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 24, 2025 11:41 ET (16:41 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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