JERSEY CITY, N.J. – Verisk Analytics is buying Wood Mackenzie for approximately $2.8 billion as it expands overseas and positions itself as a major provider of data analytics in the energy, chemicals, metals and mining sectors.
Wood Mackenzie's customer base includes more than 800 international and national energy and metals companies, financial institutions and governments. The Edinburgh, U.K., company has about 1,000 employees globally, with offices in Edinburgh, Dubai, Houston, London, Singapore and Sydney.
Wood Mackenzie CEO Stephen Halliday will lead the business and report to Verisk CEO Scott Stephenson.
Verisk Analytics Inc., based in Jersey City, New Jersey, said Tuesday that it plans to finance the deal through a combination of about $2 billion in debt and up to $800 million in equity.
The transaction, expected to close in the second quarter, is expected to add 8 to 10 cents to adjusted earnings per share in the second half of the year, based on a June 30 close date.