M&A

Verisk sells WoodMac

Verisk has agreed to sell its subsidiary, Wood Mackenzie, to technology investor Veritas Capital for US$3.3 billion.

Staff reporter
Verisk sells WoodMac

Veritas will pay $3.1 billion on the closing of the transaction, expected in the March quarter of 2023, plus a future payment of up to $200 million.

Verisk originally acquired WoodMac in 2015 for $2.8 billion and is divesting it to focus on the expansion of its role as a partner to the global insurance sector.

WoodMac is a globally recognised 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.

It expanded last year with the acqusition of Roskill.

"Drawing from its decades of leadership and innovation, Wood Mackenzie is playing a vital role at the forefront of the global energy transition by providing essential data and insights to organisations across the value chain," Veritas CEO and managing partner Ramzi Musallam said.

"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."

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Q1 Mining Equities Report 2023

Discover new trends in mining investment with insights into capital raisings and share price performance of more than 2,500 companies.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.