US-based Verisk Analytics completed the US$2.8 billion (£1.85 billion) acquisition of UK-based Wood Mackenzie (WoodMac), the data analytics and commercial intelligence company for the energy, chemicals, metals and mining verticals.
“We’re pleased to have completed the acquisition of WoodMac, and delighted to welcome the team into the Verisk family,” said Scott Stephenson, president and chief executive officer of Verisk Analytics. “This is a strategic acquisition that adds another Verisk-like business in a large, dynamic, and global vertical. We expect a quick and smooth integration, and are ready to pursue a range of combined company opportunities starting immediately.”
WoodMac delivered solid results for 1Q 2015, with revenue growth of 8.7% in GBP and EBITDA growth of 9.5% (excluding exceptional costs), as disclosed in recent filings. Consistent with comments made at the time of the announcement, the company expects WoodMac revenue growth, in GBP, for the full year in the high single digits with continued strong profitability.
Verisk continues to work to finalize the valuation of acquired intangibles and currently estimates intangible amortization will be in a range of $135-140 million in 2015 including the Wood Mackenzie amortization..
The acquisition was announced in March 2015. Wood Mackezie has about 1000 employees worldwide with offices in Edinburgh, Dubai, Houston, London, Singapore, and Sydney.
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