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| Verisk to Acquire SAP's Content as a Service (CaaS) Business to Strengthen Partnership |
JERSEY CITY, N.J., and WALLDORF, Germany, Feb 26, 2019 - (ACN Newswire) - Verisk (Nasdaq:VRSK), a leading data analytics provider, and SAP SE (NYSE:SAP) today announced they have entered into a strategic partnership to codevelop the next generation of product compliance solutions. The partnership agreement is strengthened by Verisk signing a definitive agreement to acquire SAP's Content as a Service (CaaS) business, which includes the Environmental Health and Safety Regulatory Content (ERC) and Environmental Health and Safety Regulatory Documentation (ERD) teams and data assets.
The business will become part of Verisk 3E, a Verisk business focused on providing intelligent compliance solutions in the environmental health and safety (EHS) and product compliance space. The acquisition significantly accelerates Verisk 3E's efforts to become the premier provider of integrated content, expertise, and services for the EHS and product compliance industry and expedites its growth strategy. Both the partnership and the acquisition extend Verisk 3E's global customer footprint and European operations.
The partnership expands Verisk 3E's ability to power SAP's Product Compliance platforms (including the respective parts of S/4HANA) with regulatory content and business logic. Streamlined access to critical regulatory data will benefit Verisk 3E and SAP joint customers by improving consistent compliance with changing global regulations and accelerating the development and launch of safe, innovative products.
"Verisk 3E and SAP are united by our shared mission to empower the SAP community with the products and expertise they require to drive more informed decisions, enable sustainable growth, and create a safer world," said Edmund Webecke, president, Verisk 3E. "The partnership and acquisition make it easier for both companies to advance that mission by integrating SAP's CaaS business into our already robust solution portfolio and create a comprehensive and reliable offering for the SAP user community. We're eager to welcome SAP's ERC and ERD customers to our customer community and look forward to serving them well."
"Verisk 3E has a long-standing and successful track record of providing SAP EHSM customers with the critical solutions they need to optimize their SAP platform," said Christoph Behrendt, EVP, Industry & Application Innovation, SAP. "We're delighted to be able to build upon our existing relationship to create even greater value for customers through the combined strengths of our organizations and the people developing and supporting them. This move will allow SAP to focus on providing a best-in-class product compliance software solution complemented by Verisk 3E's comprehensive content offering."
"Acquiring SAP's CaaS business furthers our growth strategy and creates value for our shareholders while also establishing a solid foundation for collaboration with SAP throughout the Verisk enterprise," added Scott Stephenson, chairman, president, and CEO of Verisk. "The businesses will be a valuable addition to both Verisk and Verisk 3E, and we look forward to working more closely with SAP in the future."
The transaction is subject to the completion of customary closing conditions.
About Verisk 3E
Verisk 3E, formerly 3E Company, delivers intelligent compliance solutions that empower companies to reduce risk, drive continuous improvement, and create new growth opportunities. For 30 years, Verisk 3E has provided clients with the expertise, content, live 24/7/365 environmental health and safety (EHS) support, and award-winning solutions required to increase chemical and workplace safety, improve product safety and stewardship, strengthen supply chain stewardship, and optimize research and development decision support.
We are deeply committed to serving our more than 5,000 customers worldwide, including seven of the world's top ten chemical manufacturers, seven of the world's top ten retailers, and seven of the world's top ten pharmaceutical companies. Global locations include our corporate headquarters in Carlsbad, California, along with offices in Beijing, China; Bethesda, Maryland; Canton, Ohio; Copenhagen, Denmark; Montreal, Canada; and Tokyo, Japan. Verisk 3E is a Verisk (Nasdaq:VRSK) business. Visit us at www.verisk3e.com.
About SAP
As the cloud company powered by SAP HANA(R), SAP is the market leader in enterprise application software, helping companies of all sizes and in all industries run at their best: 77% of the world's transaction revenue touches an SAP system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers' businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want - without disruption. Our end-to-end suite of applications and services enable more than 425,000 business and public customers to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people's lives. For more information, visit www.sap.com
About Verisk
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers 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. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor's S&P 500(R) Index. In 2018, Forbes magazine named Verisk to its World's Best Employers list. For more information, please visit www.verisk.com.
Contact:
Investor Relations
Stacey Brodbar
Head of Investor Relations
Verisk
201-469-4327
stacey.brodbar@Verisk.com
Media
Frank Lentini
Edelman (for Verisk)
212-704-4425
frank.lentini@edelman.com
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This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Verisk Analytics Inc. via Globenewswire
Topic: Press release summary
Source: Verisk Analytics, Inc.
https://www.acnnewswire.com
From the Asia Corporate News Network
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