Verisk completes WoodMac acquisition

DATA analytics provider Verisk Analytics has completed the acquisition of Wood Mackenzie, the data analytics and commercial intelligence specialist in energy, chemicals, metals and mining verticals.

Lou Caruana

The purchase price was $2.8 billion, net of foreign currency hedges.

Verisk CEO Scott Stephenson said: “We're pleased to have completed the acquisition of WoodMac, and delighted to welcome the team into the Verisk family.

“This is a strategic acquisition that adds another Verisk-like business in a large, dynamic, and global vertical. We expect a quick and smooth integration, and are ready to pursue a range of combined company opportunities starting immediately.”

WoodMac delivered first-quarter revenue growth of 8.7% and EBITDA growth of 9.5% (excluding exceptional costs).

Verisk expects WoodMac revenue growth, for the full year in the high single digits with continued strong profitability.

Wood Mackenzie CEO Stephen Halliday said: “We're thrilled to be part of Verisk which will give us a larger platform and broader solution set with which we can continue to serve our customers with excellence.”