Appriss, a provider of data analytics solutions in retail, safety and health, announced Tuesday it has acquired the retail loss prevention solutions from Jersey City-based Verisk.
Verisk is a data analytics company serving the insurance, energy and financial services industries.
Verisk’s solution, the Louisville, Kentucky-based company said, will be integrated into its retail business unit, Appriss Retail.
“The inclusion of Verisk’s retail clients now allows Appriss Retail to serve more than 300 of the largest, most advanced retailers in the world,” Krishnan Sastry, chief operating officer of Appriss, said. “What we gain by serving such a large client-base is collective intelligence. This creates the combined knowledge that we are able to leverage through our platform and our world class data science team to deliver advanced analytics and predictive models that drive measurable performance improvements across many functions in each specific retailer.”
Financial and other terms were not disclosed.
“Joining the Appriss Retail organization is an incredible opportunity for us to leverage our more than 20 years of experience in providing leading retail solutions with a team that has led the way in using advanced analytics to protect the profits of retailers worldwide,” Cheryl Blake, division president of Verisk Financial | Retail Solutions, said. “Our clients will benefit from the laser focus on the retail space while still enjoying the outstanding support that has been the hallmark of our team.”
