Acquisition positions Verisk's Wood Mackenzie business as a provider of market-leading analysis and insight across the entire energy landscape
JERSEY CITY, N.J., July 19, 2016 - Verisk Analytics, Inc. (Nasdaq:VRSK), a leading data analytics provider, today announced it has signed a definitive agreement to acquire Greentech Media, Inc. ("Greentech Media"), an industry-leading information services provider for the next-generation electricity and renewables sector. Greentech Media will become part of Wood Mackenzie, a Verisk Analytics business, and will enable Wood Mackenzie to provide its clients with market intelligence across several categories, including solar generation, energy storage, and smart grids that react dynamically to changes in supply and demand.
"The energy industry is going through a transformation, and our clients expect coverage in the solar, storage, and smart grid spaces as part of a more integrated energy service," said Neal Anderson, president of Wood Mackenzie. "Greentech Media's unique knowledge of supply chains and investment trends across those sectors deepens our existing power and renewables coverage and helps position us as a market-leading provider of analysis and insight across the entire energy landscape."
"We're thrilled to be joining Wood Mackenzie and the Verisk Analytics family of businesses," said Scott Clavenna, chief executive officer of Greentech Media. "With solar, storage, and smart grid having such an impact on energy markets today, we're confident that, together with Wood Mackenzie, our complementary capabilities will enable a more competitive and complete service for our clients."
"Greentech Media and its comprehensive market analysis of the global clean energy market will be a valuable addition to both Wood Mackenzie and Verisk Analytics," added Scott Stephenson, chairman, president, and chief executive officer of Verisk Analytics.
The transaction is expected to close in the third quarter of 2016, subject to the completion of customary closing conditions.
About Greentech Media
Greentech Media delivers business-to-business news, market analysis, and conferences that inform and connect players in the global clean energy market. Our coverage area extends across the clean energy industry with a focus on solar power and the electric utility market's evolution. Greentech Media's industry-leading coverage is provided by a team of analysts from our market intelligence arm, GTM Research (https://www.greentechmedia.com/research), as well as our world-class journalists and global network of expert contributors. Learn more at www.greentechmedia.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® Index. In 2015, Forbes magazine named Verisk Analytics to its World's Most Innovative Companies list and, in 2016, to its America's Best Large Employers list. Verisk is one of only 15 companies in the United States to appear on both lists. For more information, please visit www.verisk.com.