Verisk Analytics Inc. has signed a definitive agreement to acquire Wood Mackenzie from Hellman & Friedman and other shareholders.
Wood Mackenzie, an LNG consultant and leader in data analytics and intelligence for the energy, chemicals, metals and mining industries, will be acquired for a purchase price of £1.850 billion (approximately US$2.8 billion).
Commenting on the acquisition, Scott Stephenson, President and CEO of Verisk Analytics, said: “Wood Mackenzie is a world-class company and an excellent addition to the Verisk family. 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.”
Stephen Halliday, CEO of Wood Mackenzie, added: “This combination is a natural home for the business we’ve built over the years and a great opportunity for our customers and employees. Our teams stand ready to build on the strength of our existing solutions with the benefit of Verisk’s analytic expertise, customer relationships, and financial resources.”
The transaction is expected to close during the second quarter of 2015, subject to the completion of customary closing conditions, including receipt of regulatory approvals. Stephen Halliday will continue to lead the business, reporting to Scott Stephenson.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/10032015/verisk-to-acquire-wood-mackenzie-390/