|Acquisition enables Verisk's Wood Mackenzie business to enhance its deepwater analysis and insight capability as part of its expertise across the entire energy landscape|
JERSEY CITY, N.J., Aug 30, 2016 - (ACN Newswire) - Verisk Analytics, Inc. (Nasdaq:VRSK), a leading data analytics provider, today announced the acquisition of the data and subscriptions business of Quest Offshore Resources, Inc. ("Quest Offshore"), which supplies market intelligence to the offshore oil and gas sector.
The data and subscriptions business will become part of Wood Mackenzie, a Verisk Analytics business, and will complement Wood Mackenzie's existing upstream analysis expertise. This transaction expands on the services offered by Infield (part of Wood Mackenzie specializing in offshore supply chain intelligence) and Wood Mackenzie's upstream suite of data and analysis products. By bringing these resources together in one place, Wood Mackenzie will be able to offer clients a comprehensive, transparent, and granular analysis of the offshore oil and gas sector.
"Through this acquisition, our upstream oil and gas clients will be able to make better investment decisions through access to a unique understanding of availability, capability, and price in key offshore equipment and service markets," said Neal Anderson, president of Wood Mackenzie. "We're now able to draw together our own upstream data set and analysis, which include the expertise offered by Infield, with the proprietary systems developed by Quest Offshore's data and subscriptions business. This enhanced offering will give clients the commercial edge to develop offshore opportunities at a time when every new investment must work harder."
"We welcome the addition of Quest Offshore's data and subscriptions business, which will further enhance Wood Mackenzie's client offering," added Scott Stephenson, chairman, president, and chief executive officer of Verisk Analytics. "This follows our strategy to invest in businesses with unique data assets, deep domain expertise, and market-leading analysis."
About Quest Offshore
Quest Offshore is a leading provider of strategic market intelligence to the global oil and gas community through subscriptions to their eight proprietary market-forecast databases in addition to the client-directed initiatives to provide our expert industry advice to enhance our customers' business strategies. For more information, visit www.questoffshore.com.
About Wood Mackenzie
Wood Mackenzie, a Verisk Analytics business, is a trusted source of 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.
WOOD MACKENZIE is a trademark of Wood Mackenzie Limited and is the subject of trademark registrations and/or applications in the European Community, the United States, and other countries around the world.
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, natural resources, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk Analytics draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk Analytics helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk Analytics operates in 23 countries and is a member of Standard & Poor's S&P 500(R) Index. In 2016, Forbes magazine named Verisk Analytics to its World's Most Innovative Companies list and to its America's Best Large Employers list. Verisk is one of only 14 companies to appear on both lists. For more information, please visit www.verisk.com.
Director, Investor Relations and Strategic Finance
Verisk Analytics, Inc.
MWW Group (for Verisk Analytics)
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Verisk Analytics Inc. via Globenewswire
Aug 30, 2016 08:20 HKT/SGT
Topic: Merger & Acquisition
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