Wood Mackenzie Parent Verisk to Acquire Genscape
(P&GJ) — Real-time data and intelligence provider Genscape will become part of consultant Wood Mackenzie following a $364 million cash acquisition by WoodMac parent Verisk.
Founded in 1999, Genscape has grown to become the world’s largest private network of in-field monitors. Wholly owned by Daily Mail and General Trust, it distributes alternative energy data and delivers market intelligence across the commodity and energy spectrum, including power, oil, natural gas, natural gas liquids, agriculture, biofuels, and maritime freight.
“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.”
Anderson highlighted the growth opportunity presented by the acquisition, noting that there is little overlap between Wood Mackenzie's customer base and the 1,300 customers Genscape serves.
The transaction is subject to the completion of customary closing conditions.
Jersey City, N.J.-based Verisk operates in 30 countries and is a member of Standard & Poor’s S&P 500 Index.
Related News
Related News
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- Williams Delays Louisiana Pipeline Project Amid Dispute with Competitor Energy Transfer
- Evacuation Technologies to Reduce Methane Releases During Pigging
- Editor’s Notebook: Nord Stream’s $20 Billion Question
- Enbridge Receives Approval to Begin Service on Louisiana Venice Gas Pipeline Project
- Russian LNG Unfazed By U.S. Sanctions
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
Comments