Verisk buys Wood Mackenzie
Verisk Analytics, a data analytics provider, has signed a definitive agreement to acquire Wood Mackenzie from Hellman & Friedman.
Wood Mackenzie is focused on gathering and analyzing data about the energy industry, including liquefied natural gas. It has approximately 1,000 employees worldwide with offices in Edinburgh, Dubai, Houston, London, Singapore, and Sydney.
“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,” it said in a statement.
The purchase price is £1.850 billion (approximately $2.8 billion) to be paid in cash. Verisk intends to finance the transaction through a combination of about $2 billion in debt and up to $800 million in equity.
The transaction is expected to close during the second quarter of 2015. Stephen Halliday, Wood Mackenzie’s CEO, will continue to lead the business, reporting to Verisk president and CEO, Scott Stephenson.
LNG World News Staff; Image: Wood Mackenzie