Wood Mackenzie provides data, analytics and insights to support the energy, renewables and natural resources industry.
“This transaction best positions Verisk to expand our role as a strategic data, analytics and technology partner to the global insurance industry, and, as a result, drive growth and returns that will create long-term shareholder value,” Verisk CEO Lee Shavel said.
Veritas brings deep sector knowledge and operational expertise to Wood Mackenzie. As a premier investor in technology and technology-enabled companies that provide critical products, software and services to government and commercial customers worldwide, the firm is uniquely positioned to further advance Wood Mackenzie’s goal of accelerating the transition to a more sustainable future.
The announcement is the latest demonstration of Verisk’s continued efforts to optimize the business for peak performance and long-term sustainable growth and value.
“Drawing from its decades of leadership and innovation, Wood Mackenzie is playing a vital role at the forefront of the global energy transition by providing essential data and insights to organizations across the value chain,” Ramzi Musallam, CEO and managing partner of Veritas, said.
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first quarter of 2023.
Morgan Stanley & Co. LLC is acting as financial adviser and Davis Polk & Wardwell LLP as legal adviser to Verisk in connection with the transaction. Gibson, Dunn & Crutcher LLP is acting as legal adviser to Veritas.