Verisk $3.1 billion sale of Wood Mackenzie to Veritas Capital
We are advising Verisk on the transaction
Davis Polk is advising Verisk on the sale of its energy business, Wood Mackenzie, to an affiliate of Veritas Capital for $3.1 billion in cash consideration payable at closing plus future additional contingent consideration of up to $200 million. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first quarter of 2023.
Verisk provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software and deep industry knowledge, Verisk empowers customers to make informed decisions; strengthen operating efficiency; improve underwriting and claims outcomes; combat fraud; and tackle significant global issues including extreme events, natural resources, geopolitical risks and ESG matters.
Wood Mackenzie is a globally recognized industry leader that has been providing quality data, analytics and insights used to power the energy, renewables and natural resources industry for nearly 50 years.
Veritas is a longstanding technology investor with over $45 billion of assets under management and a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide critical products, software and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide.
The Davis Polk corporate team includes partner Marc O. Williams and associate Michael Senders. The tax team includes partners Kara L. Mungovan and Jonathan Cooklin and associates Freddie Schwier and Dov Sussman. The executive compensation team includes partner Jennifer S. Conway and associate Charlotte R. Fabiani. The finance team includes partner David Hahn. Partner John B. Meade is providing capital markets advice. Members of the Davis Polk team are based in the New York and London offices.