Verisk Analytics, Inc., to Acquire G2 Web Services
(Thomson Reuters ONE) -
Verisk Analytics, Inc., to Acquire G2 Web Services
JERSEY CITY, N.J., July 27, 2017 - Verisk Analytics, Inc. (Nasdaq:VRSK), a
leading data analytics provider, has signed a definitive agreement to acquire G2
Web Services (based in Bellevue, Washington), an industry-leading provider of
merchant risk intelligence solutions for acquirers, commercial banks, and other
payment system providers.
G2 Web Services will become part of Argus, a Verisk Analytics business, which
will allow Argus to enhance its offerings to clients and partners, providing
unprecedented market-leading solutions in merchant and consumer fraud and
reputational risk detection.
G2 provides acquiring banks, payment companies, and commercial banks the
solutions they need to identify, mitigate, and monitor payments risk in their
merchant and business customer portfolios. G2 Web Services has gathered more
than a decade of merchant-specific data, which is incorporated in the G2
Merchant Map, the industry's most extensive fraud and compliance
database. Combining data science, industry-leading technology, and deep domain
expertise, the company leads the payments industry in the identification of
third-party merchant risk for hundreds of the world's largest financial
institutions.
"We're thrilled to have G2 join the Verisk family," said Nana Banerjee, group
president of Verisk Analytics. "Both G2 and Argus share the same focus on
deploying sophisticated data-driven solutions and making business safer for our
clients, including banks, payment platforms, networks, and acquirers. G2 is
changing the way the financial sector identifies and mitigates risk and fraud,
and we firmly believe that our many other client companies across the globe will
benefit from being part of the G2 platform."
"By joining with Argus, we will take our proprietary data assets, powerful
technology, and deep domain expertise to the next level in helping clients fight
fraud, transaction laundering, and reputational risk within the global payments
and e-commerce ecosystem," said Allison Guidette, chief executive officer at G2
Web Services. "Together we will expand our capabilities to map bad-actor
networks, predict payments risk, and provide clients with the best opportunity
to reduce losses and fines due to merchant and business fraud and compliance
violations."
"G2 is an excellent fit for the Verisk Analytics family of businesses and a
great opportunity to add a unique data set that will allow us to do even more to
help our customers combat fraud in the payments space," added Scott Stephenson,
chairman, president, and chief executive officer of Verisk Analytics.
The purchase price is $112 million, to be paid in cash to stockholders of
G2. The transaction is expected to close during the third quarter of 2017,
subject to the completion of customary closing conditions.
About G2 Web Services
G2 Web Services provides merchant risk intelligence solutions for acquirers,
commercial banks, and their value chain partners, representing close to 60
percent of global merchant outlets. Only G2 Web Services has the experience,
data, and skills to provide customers with comprehensive solutions that
transform the way they manage and monitor merchant and business risk. Our
platform has been built through over a decade of partnership with acquiring
banks around the world and the major U.S. card networks and uses advanced
technologies combined with expert analysts to deliver value to our customers
worldwide. For more information, please visit www.g2webservices.com.
About Argus
Argus is a one-of-a-kind leading provider of information, scoring solutions, and
advisory services to financial institutions across the globe. Our client base
ranges from financial institutions and their regulators to various companies
across the media industry and beyond. We maximize the value of data by
transforming it into insightful information and analysis that assist our clients
in understanding their market contribution, managing and mitigating risk
(default, fraud, funding, and compliance), and capitalizing on their financial
objectives. Argus, a Verisk Analytics (Nasdaq:VRSK) business, is headquartered
in White Plains, New York, with additional offices in San Francisco, São Paulo,
Sydney, Melbourne, and London. For more information, please visit
www.argusinformation.com.
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 27 countries
and is a member of Standard & Poor's S&P 500(®) Index. In 2017, Forbes magazine
named Verisk Analytics to its America's Best Mid-Size Employers list and, in
2016, to its World's Most Innovative Companies list. Verisk is one of only six
companies to appear on both lists. For more information, please visit
www.verisk.com.
Contact:
Investor Relations
David Cohen
AVP, Investor Relations and Strategic Finance
Verisk Analytics, Inc.
201-469-2174
david.e.cohen(at)verisk.com
Media
Rich Tauberman
MWWPR (for Verisk Analytics)
202-600-4546
rtauberman(at)mww.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Verisk Analytics Inc. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 27.07.2017 - 22:30 Uhr
Sprache: Deutsch
News-ID 554328
Anzahl Zeichen: 6811
contact information:
Town:
Jersey City
Kategorie:
Business News
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