The Daily Mail and General Trust, owner of the Mail titles, has sold its energy information business Genscape for GBP 297 million to US firm Verisk. Genscape collects data and offers forecasts and analytics to customers in the market, as well as providing software solutions.
New York-listed Verisk, which also provides risk analysis to the insurance sector, acquired the energy consultancy Wood Mackenzie for GBP 1.85 billion in 2015. Genscape will become part of Wood Mackenzie.
DMGT chief executive Paul Zwillenberg said, “This transaction marks another major milestone in DMGT’s continued transformation and is in line with our strategy. It will further increase the focus of the portfolio and will result in DMGT operating in five sectors, compared to ten in 2016.”
He added that the sale of Genscape was “consistent with our strategic priorities” and would add more than GBP 200 million net cash to the company’s balance sheet.
UK, London, USA, Louisville, KY & Jersey City, NJ
- Verisk Analytics to acquire Wood Mackenzie Posted on March 10, 2015
- Hellman & Friedman takes controlling stake in Wood Mac Posted on July 4, 2012