New Jersey-based data analytics firm Verisk, owner of Edinburgh-based consultancy Wood Mackenzie, said it agreed to acquire Genscape, a provider of intelligence for commodity and energy markets, for $364 million in cash from Daily Mail and General Trust (DMGT) .
Verisk acquired Wood Mackenzie from Hellman & Friedman and other Wood Mackenzie shareholders in 2015 for about $2.8 billion.
Headquartered in Jersey City, Verisk operates in 30 countries and is a member of Standard & Poor’s S&P 500 Index.
“Genscape will become part of Wood Mackenzie, a Verisk business, and will enhance Wood Mackenzie’s existing sector intelligence in energy data and analytics,” said Verisk.
“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.”
Wood Mackenzie president Neal Anderson said: “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.
“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.
“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.”
Verisk CEO Scott Stephenson said: “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.”
The transaction is subject to the completion of customary closing conditions.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor’s S&P 500® Index. In 2018, Forbes magazine named Verisk to its World’s Best Employers list. For more informati