Leading data analytics provider, Verisk Analytics, Inc. (NASDAQ:VRSK) , continues to grow inorganically with the acquisition of data and subscriptions segment of Quest Offshore Resources, Inc. ("Quest Offshore"). The acquired segment will be part of Wood Mackenzie, Verisk’s Analytics business.
About Quest
Headquartered in Sugar Land, TX, Quest Offshore is a leading provider of market expertise, strategic analysis and consultancy services to the oil and gas markets across the world.
Benefits of the Acquisition
The deal will expand Wood Mackenzie’s service offerings. The company will be able to offer better ways to analyze the offshore oil and gas sector. This acquisition will enhance the client’s investment decisions by helping them understand the availability, capability, and cost in key offshore equipment and service markets. Using Quest’s expertise in the data and subscription business, Verisk will be well positioned to enhance offerings to its clients.
Verisk’s Objectives
Verisk continues to deliver outstanding data analytics solutions to customers across its core verticals of insurance, natural resources, and financial services. The company’s ability to generate strong cash enables it to meet its deleveraging objectives and invest on behalf of its shareholders. However, the company is focused on inorganic growth due to which it has to incur acquisition-related costs to ensure long-term gains.
Headquartered in Jersey City, NJ, Verisk is a data analytics and risk assessment firm with operations spread worldwide. It channelizes proprietary data and industry expertise to offer predictive analytics and decision support solutions to prevent fraud and other mishaps that could occur from a want of updated data.
Verisk currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the sector include LifeLock, Inc. (NYSE:LOCK) , AO Smith Corp. (NYSE:AOS) and Franklin Electric Co., Inc. (NASDAQ:FELE) . All three stocks carry a Zacks Rank #2 (Buy).
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
VERISK ANALYTIC (VRSK): Free Stock Analysis Report
SMITH (AO) CORP (AOS): Free Stock Analysis Report
FRANKLIN ELEC (FELE): Free Stock Analysis Report
LIFELOCK INC (LOCK): Free Stock Analysis Report
Original post
Zacks Investment Research