Jersey City-based Verisk, a data analytics provider, and SAP SE, have partnered to co-develop the next generation of product compliance solutions, the pair announced Monday.
Verisk also agreed to acquire SAP’s Content-as-a-Service business, which it said will enhance the partnership. The CaaS business will become part of Verisk 3E, a Verisk business unit that provides compliance solutions in the environmental health and safety and product compliance sector.
“Verisk 3E and SAP are united by our shared mission to empower the SAP community with the products and expertise they require to drive more informed decisions, enable sustainable growth, and create a safer world,” Edmund Webecke, president, Verisk 3E, said. “The partnership and acquisition make it easier for both companies to advance that mission by integrating SAP’s CaaS business into our already robust solution portfolio and create a comprehensive and reliable offering for the SAP user community. We’re eager to welcome SAP’s ERC and ERD customers to our customer community and look forward to serving them well.”
The partnership and the acquisition, Verisk said, will help extend its global customer footprint and European operations.
“Acquiring SAP’s CaaS business furthers our growth strategy and creates value for our shareholders while also establishing a solid foundation for collaboration with SAP throughout the Verisk enterprise,” Scott Stephenson, chairman, CEO and president of Verisk, said. “The businesses will be a valuable addition to both Verisk and Verisk 3E, and we look forward to working more closely with SAP in the future.”
Financial terms of the deal were not disclosed.
