JERSEY CITY, N.J., May 20 (UPI) -- The $2.8 billion acquisition of global analytics company Wood Mackenzie should be seamless, rival Verisk Analytics said.
Verisk, which has headquarters in Jersey City, said it finalized the acquisition as of Tuesday.
"We expect a quick and smooth integration, and are ready to pursue a range of combined company opportunities starting immediately," Scott Stephenson, president and chief executive officer of Verisk Analytics, said in a statement.
Wood Mackenzie has a global energy client base that extends across more than 80 countries, competing with rival analytical group IHS. Stephen Halliday, chief executive officer of Wood Mackenzie, will stay on to lead the new business, reporting to Stephenson.
Wood Mackenzie during first quarter 2015 posted a revenue growth of 8.7 percent year-on-year. Verisk said it expects that trend will continue with a full-year growth rate in the "high single digits with continued strong profitability."
Total revenue for Verisk during the first quarter was 12.1 percent. The New Jersey-based company said the deal establishes it as one of the more trusted data analytics providers in the global energy sector, a mirror of its position in the property and insurance industry.
