Verisk Buys GeoInformation Group

Energy sector data firm Verisk Analytics has acquired The GeoInformation Group, which provides large-scale mapping services and geospatial data and analytic solutions, and is based in Cambridge, UK.

GeoInformation was formed in 1998 and boasts more than 300 public sector clients as well as private companies. The firm, which focuses on extracting information from high-resolution aerial imagery for professional use, now joins the Verisk group but will continue to operate from its current location.

This is the latest in a line of acquisitions for Jersey City, NJ-based Verisk, which paid around £1.85bn in cash (then around $2.8bn) for Edinburgh-based energy, chemicals, metals and mining analyst Wood Mackenzie in May 2015. Since then its has acquired The PCI Group, electricity and renewables specialist Greentech Media, and part of offshore oil and gas intelligence provider Quest Offshore Resources. It also sold its healthcare services division to an affiliate of private equity firm Veritas Capital six months ago, for a total of $820m.

Verisk Chairman, President and CEO Scott Stephenson (pictured) comments: 'This acquisition expands Verisk's footprint in the UK as a data and analytics provider across multiple markets, including insurance, energy, and real estate. The GeoInformation Group's resources complement our risk management and predictive analytics capabilities internationally'.

GeoInformation CEO Dr. Seppe Cassettari comments: 'We're thrilled to be part of Verisk - a business clearly committed to providing innovation and value to customers. I'm confident our combined resources, talent, and solutions will enhance our offerings even more'.

Web sites: www.geoinformationgroup.co.uk and www.verisk.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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