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Verisk (NASDAQ:VRSK), insurance and energy analytics company announced that it is planning to acquire energy intelligence company, Genscape for US$364 million in cash. Genscape applies satellite monitoring, sensors and artificial intelligence to analyze data on the commodity and energy markets for its 1,300 clients. As quoted in the press release: Genscape operates the world’s largest …
Verisk (NASDAQ:VRSK), insurance and energy analytics company announced that it is planning to acquire energy intelligence company, Genscape for US$364 million in cash. Genscape applies satellite monitoring, sensors and artificial intelligence to analyze data on the commodity and energy markets for its 1,300 clients.
As quoted in the press release:
Genscape operates the world’s largest private network of in-field monitors and distributes industry-leading alternative energy data, delivering market intelligence across the commodity and energy spectrum, including power, oil, natural gas, natural gas liquids, agriculture, biofuels, and maritime freight. This will further enhance Wood Mackenzie’s leading research and consultancy across the natural resources sectors.
“With Genscape joining Wood Mackenzie, our customers will now better understand the defining issues facing key energy commodities—over the long term with Wood Mackenzie’s existing offerings and in the short term through Genscape’s offerings,” said Neal Anderson, president, Wood Mackenzie. “With the immediacy and global reach of Genscape’s IoT sensors, customers have access to proprietary data analytics.”
