Verisk Acquires Genscape

Real-time Offshore Analytics

Energy market analyst firm Verisk is to acquire real-time data and intelligence provider Genscape, in a move to improve analytics of the offshore sector.

Based in Louisville, Kentucky, Genscape operates the world’s largest private network of in-field monitors and provides market intelligence across the commodity and energy spectrum. The business will be merged into Verisk’s Wood Mackenzie consultancy based in Edinburgh, Scotland.

“With Genscape joining Wood Mackenzie, our customers will now better understand the defining issues facing key energy commodities … With the immediacy and global reach of Genscape’s IoT sensors, customers have access to proprietary data analytics,” said Neal Anderson, president, Wood Mackenzie.

Based in New Jersey, Verisk provides data analytics and risk assessment globally. The group will acquire Genscape from its current owner, Daily Mail and General Trust, for US$364 million in cash.
Photo: Genscape software. Credit: Wikimedia