- Wood Mackenzie provides data, analytics and insights to the energy, renewables and natural resources industry
- Verisk acquired the company in 2015
- Verisk divested its financial services and environmental health and safety businesses
Verisk announced on Monday that it has signed a definitive agreement to sell Wood Mackenzie to Veritas Capital. Veritas has agreed to pay $3.1 billion in cash consideration payable at closing as well as future additional contingent consideration of up to $200 million.
Wood Mackenzie, headquartered in Edinburgh, provides data, analytics and insights to the energy, renewables and natural resources industry and was acquired by Verisk in 2015. The deal is expected to close in the first quarter of 2023.
“In partnership with Wood Mackenzie leadership, and with the strong backing of our strategic investment, we have an opportunity to enhance and expand the datasets and solutions the company provides to its growing customer base, from upstream producers who are looking to decarbonise to new energy asset managers who want to optimise their investments,” said Ramzi Musallam, CEO and managing partner of Veritas.
Veritas is a private investment firm that invests in companies that provide products and services, primarily technology or tech-enabled services to government and commercial customers across the world. The firm is headquartered in New York.
Verisk is a data analytics and risk assessment firm headquartered in Jersey City, New Jersey.