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Nasdaq-listed firm acquires consultancy

WoodMac confirms £1.85 billion sale to Verisk

Stephen HallidayOil consultancy Wood Mackenzie, based in Edinburgh, has been sold to US data analytics firm Verisk, confirming speculation in Daily Business yesterday.

The  £1.85 billion takeover is likely to mean another windfall for the staff, 340 of whom shared £90 million when current owner, San Francisco based private equity firm Hellman & Friedman, acquired the business in July 2012.

The announcement ends the prospect of WoodMac joining the stock market in a £2 billion flotation which would have been one of the biggest in Scotland for some time.

With offices in Edinburgh, Dubai, Houston, London, Singapore and Sydney, WoodMac will bring its 800 global energy clients in 80 countries to the Nasdaq-listed company which is based in New Jersey.

Scott Stephenson, president and chief executive officer of Verisk Analytics, said: “Wood Mackenzie is a world-class company and an excellent addition to the Verisk family.

“The company has significant opportunities in the global energy, chemicals, metals and mining verticals, a track record of consistent revenue growth and profitability, distinctive and mission-critical solutions, and an impressive management team. Those are all features of a unique and wonderful business.”

WoodMac chief executive Stephen Halliday, who will continue to lead the business, added: “This combination is a natural home for the business we’ve built over the years and a great opportunity for our customers and employees.”

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