Verisk Analytics to Acquire LCI
(Thomson Reuters ONE) -
Verisk Analytics to Acquire LCI
Acquisition to bring new range of risk management tools to banks
JERSEY CITY, N.J., August 24, 2017 - Verisk Analytics, Inc. (Nasdaq:VRSK), has
signed a definitive agreement to acquire LCI, an industry-leading provider of
risk insight, prediction, and management solutions for banks and creditors. LCI
is based in Burlingame, California.
"The acquisition will bring together Verisk's unique proprietary data assets
from its Argus business and LCI's high-quality proprietary time-series data,
including consumer and commercial bankruptcies, consumer behavior, and legal and
technical terms associated with debtor settlements. The combination will allow
us to introduce a new and exciting range of insights, proprietary decisioning
algorithms, and state-of-the-art risk management workflow solutions aimed at
addressing a growing need among our banking clients," said Nana Banerjee, group
president of Verisk Analytics.
"We're delighted to join Argus and together support the most forward-thinking
financial companies in the world with data-driven solutions that can improve
matters associated with regulation, bankruptcy, charge-off, and debt
collection," said Chris Lundquist, chief executive officer and president of
LCI. "LCI is an excellent fit for Argus's sharp focus on advising creditors
throughout the account management life cycle."
"Given LCI's unique data assets, first-mover advantage, and deep bankruptcy
management expertise, I'm confident LCI is an excellent fit for the Verisk
Analytics family of businesses," added Scott Stephenson, chairman, president,
and chief executive officer of Verisk Analytics.
The purchase price is $151 million, to be paid in cash to stockholders of
LCI. The transaction is expected to close during the third quarter of 2017,
subject to the completion of customary closing conditions.
About LCI
LCI delivers bankruptcy data and consumer behavioral data, process automation
software, expert services, and research to automate expensive processes in the
bankruptcy life cycle. With expertise in the financial industry, specifically
its focus on at-risk accounts, LCI innovates, develops, and delivers solutions
that provide superior information and improved profitability. LCI's high-tech
approach, combining process engineering principles with management information
systems, brings a sharp focus on quality control and process efficiency to the
development of data processing systems. For more information, please visit
www.lciinc.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 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: 24.08.2017 - 14:00 Uhr
Sprache: Deutsch
News-ID 557729
Anzahl Zeichen: 5701
contact information:
Town:
Jersey City
Kategorie:
Business News
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