Verisk Analytics Acquiring 3E Company
The $110 million transaction is expected to close this month, pending shareholders' and regulatory approvals, according to the companies.
Verisk Analytics Inc. has signed an agreement to acquire 3E Company, the two firms announced Tuesday. This is a $110 million transaction that is expected to close this month, pending shareholders' and regulatory approvals.
3E offers services that help companies comply with government-mandated EH&S requirements. It has a database of about 3.7 million material safety data sheets, more than 5,000 customers, and a global regulatory database of more than 300,000 potentially hazardous substances, according to the company. Verisk Analytics offers decision-support solutions and risk information to professionals in insurance, health care, mortgage, government, and risk management, using advanced technologies to collect and analyze billions of records and thus assisting with fraud prevention, fire protection, catastrophe and weather risk, data management, and more.
"We are excited to bring 3E into the Verisk family," said Scott Stephenson, chief operating officer of Verisk. "With a high client retention rate, 3E has proven itself a valuable environmental health and safety risk mitigation resource for business continuity, product life cycle management, and other business needs. 3E provides an excellent platform consistent with Verisk's historical expertise in regulatory and compliance matters and with our focus on supply chain solutions."
"We are delighted to join Verisk and eager to continue the growth of our business with the support of Verisk's analytical capabilities and relationships," said Bob Christie, chief executive officer of 3E. He will continue to lead the company, according to the announcement.