Verisk Analytics, Inc. (Jersey City, N.J.; www.verisk.com) a leading data analytics provider, announced it has signed a definitive agreement to acquire Wood Mackenzie (www.woodmac.com) from Hellman & Friedman and other Wood Mackenzie shareholders. Wood Mackenzie is a global leader in data analytics and commercial intelligence for the energy, chemicals, metals and mining verticals. The acquisition establishes Verisk as a trusted data analytics provider at the center of the global energy market, similar to its position in the property/casualty insurance industry. The transaction advances Verisk’s strategy to expand internationally and positions the company in markets that relate closely to the company’s existing supply chain and climate risk initiatives, which are central to the global economy of the 21st century.
Wood Mackenzie leverages predictive models and robust proprietary data gathered over the past century to describe and value assets, forecast their future productivity and value, and provide clients with trusted strategic advice. Wood Mackenzie’s global teams of experts rigorously analyze the data, ensuring a deep understanding of the company’s extensive global data sets and the end markets they describe. Wood Mackenzie advisers work directly with clients to address their business challenges. Wood Mackenzie has approximately 1,000 employees worldwide with offices in Edinburgh, Dubai, Houston, London, Singapore and Sydney.
“Wood Mackenzie is a world-class company and an excellent addition to the Verisk family,” said Scott Stephenson, president and chief executive officer of Verisk Analytics. “The company has significant opportunities in the global energy, chemicals, metals and mining verticals, a track record of consistent revenue growth and profitability, distinctive and mission-critical solutions, and an impressive management team. Those are all features of a unique and wonderful business.”
“The culture of Wood Mackenzie is well aligned with that of Verisk, and we are eager to welcome our new colleagues. We think the people, the opportunity, and the business are a wonderful fit for who we are and what we aspire to be,” concluded Stephenson.
The purchase price is £1.850 billion (approximately $2.8 billion) to be paid in cash, subject to typical closing adjustments. Verisk intends to finance the transaction through a combination of about $2 billion in debt and up to $800 million in equity.