Verisk Analytics to Acquire Sequel
(Thomson Reuters ONE) -
Verisk Analytics to Acquire Sequel
Sequel Is a Leading Software Player with a Strong Vertical Focus on Complex
Commercial and Specialty Insurance
Acquisition Will Strengthen Verisk's Position in the London Insurance Market and
Offers Global Growth Opportunities
JERSEY CITY, N.J., August 21, 2017 - Verisk Analytics, Inc. (Nasdaq:VRSK), a
leading data analytics provider, has signed a definitive agreement to acquire
Sequel from HgCapital and other Sequel shareholders. Sequel is a leading
insurance and reinsurance software specialist based in London.
The acquisition will further expand Verisk's comprehensive offerings to the
global complex commercial and specialty insurance industry, enabling integrated
global data analytics through a specialized end-to-end workflow solution.
Sequel is a pioneer in complex commercial and specialty insurance software
innovation, with a diverse customer base that includes some of the world's
largest specialty insurance players. The company's solutions are used by
thousands of professionals across the industry and underpin the core workflows
throughout the value chain while assisting clients in gaining competitive
advantage.
"Sequel's strong position in the London insurance market will allow Verisk to
build on our footprint in the UK, reinforce our deep long-term commitment to a
strategic market, and expand our customer sets in global insurance markets,"
said Mark Anquillare, chief operating officer of Verisk Analytics. "This
supports our vision to deeply integrate into our customers' workflows and adds
to our unique data assets, deep domain expertise, and steady stream of first-to-
market innovations."
"We're proud to be joining Verisk, whose vast data, experience, and technology
capabilities, combined with our leading workflow solutions for complex
commercial and specialty insurance, will improve all the services that we offer
our customers," said Mario Garcia, chief executive officer of Sequel.
"Sequel and its unique software tools will be a valuable addition to Verisk
Analytics as we develop new ways to innovate with our customers around the
world," added Scott Stephenson, chairman, president, and chief executive officer
of Verisk Analytics.
The purchase price is £250 million. The transaction is expected to be neutral to
2017 adjusted earnings per share and accretive to 2018 adjusted earnings per
share. Sequel had revenue and EBITDA of £26 million and £12 million,
respectively, for the year ended June 30, 2017. The transaction is expected to
close in third-quarter 2017, subject to the completion of customary closing
conditions.
About Sequel
Sequel is a leading insurance and reinsurance software specialist. From its
headquarters in London EC2, the company employs talented insurance and technical
experts in the UK and Spain who are dedicated to complex commercial and
specialty insurance and serving its clients' businesses in the London market.
Sequel delivers a modern, powerful, and integrated suite of software that
provides full end-to-end management of all insurance and reinsurance business.
As a result, its clients are able to grow and better manage their business
through greater efficiency, flexibility, and data governance. For more
information, please visit http://www.sequel.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 29 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 to its
World's Most Innovative Companies list. Verisk is one of only seven 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: 21.08.2017 - 14:01 Uhr
Sprache: Deutsch
News-ID 557199
Anzahl Zeichen: 5728
contact information:
Town:
Jersey City
Kategorie:
Business News
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