Verisk to Acquire Genscape

August 26, 2019 / 3 min read

JERSEY CITY, N.J., August 26, 2019 — Verisk (Nasdaq:VRSK), a leading data analytics provider, has signed a definitive agreement to acquire Genscape, a global provider of real-time data and intelligence for commodity and energy markets, wholly owned by DMGT (Daily Mail and General Trust [Lon:DMGT]) for $364 million in cash. Genscape will become part of Wood Mackenzie, a Verisk business, and will enhance Wood Mackenzie’s existing sector intelligence in energy data and analytics.

Genscape operates the world’s largest private network of in-field monitors and distributes industry-leading alternative energy data, delivering market intelligence across the commodity and energy spectrum, including power, oil, natural gas, natural gas liquids, agriculture, biofuels, and maritime freight. This will further enhance Wood Mackenzie’s leading research and consultancy across the natural resources sectors.

“With Genscape joining Wood Mackenzie, our customers will now better understand the defining issues facing key energy commodities—over the long term with Wood Mackenzie’s existing offerings and in the short term through Genscape’s offerings,” said Neal Anderson, president, Wood Mackenzie. “With the immediacy and global reach of Genscape’s IoT sensors, customers have access to proprietary data analytics.”

“The agreement also increases the growth potential for our business,” added Anderson. “There is limited overlap between Wood Mackenzie’s customer base and the 1,300 customers that Genscape serves. This creates a significant opportunity to use our existing solutions for cross-sell to customers of the two businesses and particularly to integrate our proprietary data sets for new analytical insights.”

“We’re very excited about this combination,” said Jon Ecker, chief executive officer of Genscape. “Our content, analytics, and services complement each other extremely well, and the combination will bring significant added value for our customers. We’re looking forward to working with Verisk and Wood Mackenzie to see what the energy future holds.”

“Genscape and its real-time and historical data, forecasts, analytical insights, tools, and software solutions will be a valuable addition to both Wood Mackenzie and Verisk,” added Scott Stephenson, chairman, president, and chief executive officer of Verisk.

The transaction is subject to the completion of customary closing conditions.

About Genscape
Founded in 1999, Genscape is a leading global provider of real-time data and intelligence for commodity and energy markets.

Today, Genscape operates the world’s largest private network of in-field monitors and has added satellite reconnaissance, artificial intelligence, and maritime freight tracking to its data acquisition capabilities. Genscape delivers its unique brand of unsurpassed market intelligence across the commodity and energy spectrum, including power, oil, natural gas, NGL, agriculture, biofuels, and maritime freight. For more information, visit https://www.genscape.com/.

About Wood Mackenzie
Wood Mackenzie, a Verisk (Nasdaq:VRSK) business, is a trusted source of technical and commercial intelligence for the world’s natural resources sector. Wood Mackenzie empowers clients to make better strategic decisions, providing objective analysis and advice on assets, companies, and markets. For more information, visit www.woodmac.com or follow us on Twitter @WoodMackenzie.

About Verisk
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.

Contact:

Investor Relations
Stacey Brodbar
Head of Investor Relations
Verisk
201-469-4327
stacey.brodbar@verisk.com

Media
Frank Lentini
Edelman (for Verisk)
212-704-4425
frank.lentini@edelman.com