Verisk sells Wood Mackenzie to Veritas for $3.1B cash plus up to $200M contingent

Verisk Analytics, Inc.

Sale of Wood Mackenzie for $3.1B cash at closing plus up to $200M in contingent payments.
Transaction expected to close in Q1 2023, subject to regulatory approvals and customary conditions.
Verisk intends to use after-tax proceeds to pay down debt and return value to shareholders via share repurchases.
After sale, Verisk will focus on being a strategic data and technology partner to the global insurance industry.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Verisk Analytics, Inc. entered into Purchase Agreement with Planet Jersey Buyer Ltd valued at $3,100,000,000 of cash consideration (effective 2022-10-28).

Action: entry
Agreement: asset purchase
Counterparty: Planet Jersey Buyer Ltd
Value: $3,100,000,000 of cash consideration
Effective: 2022-10-28

Exact text from the filing

On October 28, 2022, Verisk Analytics, Inc. (“ Verisk ”) entered into an Equity Purchase Agreement (the “ Purchase Agreement ”) by and between Verisk and Planet Jersey Buyer Ltd (“ Buyer ”).

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Verisk Analytics, Inc. filing history →

Source: SEC EDGAR

accession 0000950103-22-018776

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