Verisk Analytics, Inc. (Nasdaq:VRSK), a Jersey City, N.J.-based data analytics provider, is to acquire LCI, a Burlingame, California-based provider of risk insight, prediction, and management solutions for banks and creditors.
The transaction is expected to close during the third quarter of 2017, subject to the completion of customary closing conditions. The purchase price is $151m, to be paid in cash to stockholders of LCI.
Led by Nana Banerjee, president, and Scott Stephenson, chairman, president, and chief executive officer, Verisk Analytics uses advanced technologies to collect and analyze billions of records to offer predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields.
The company cuurently operates in 29 countries.
Led by Chris Lundquist, chief executive officer and president, LCI delivers bankruptcy data and consumer behavioral data, process automation software, expert services, and research to automate expensive processes in the bankruptcy life cycle. The company has a specific expertise in the financial industry, specifically its focus on at-risk accounts.