Wood Mackenzie, an analyst firm serving the energy sector, was acquired in 2015 for $2.8 million by Verisk, a global data analytics provider, and then the following year, GTM Research was folded into Wood Mackenzie. Now Verisk and Veritas Capital, an investor at the intersection of technology and government, has announced the signing of a definitive agreement whereby Veritas has agreed to acquire Verisk’s Energy business, Wood Mackenzie, for $3.1 billion in cash consideration plus future additional contingent consideration of up to $200 million.
“This transaction best positions Verisk to expand our role as a strategic data, analytics, and technology partner to the global insurance industry, and as a result, drive growth and returns that will create long-term shareholder value,” said Lee Shavel, Verisk CEO. “It will also further advance Wood Mackenzie’s competitive position and support the vital roles both organizations play in their respective industries.”
Since joining Verisk in 2015, Wood Mackenzie has developed strong data and analytics capabilities and provides renewable energy and energy transition data and analytics with the purpose of transforming the way the planet is powered.
Veritas is a technology investor with more than $45 billion of assets under management and a focus on companies operating at the intersection of technology and government, and it brings deep sector knowledge and operational expertise to Wood Mackenzie. Veritas plans to help further advance Wood Mackenzie’s goal of accelerating the transition to a more sustainable future.
“Wood Mackenzie is playing a vital role at the forefront of the global energy transition by providing essential data and insights to organizations across the value chain,” said Ramzi Musallam, chief executive officer and managing partner of Veritas.
pv magazine often turns to Wood Mackenzie for data, analytics, and insights into the global solar market.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.