Wood Mackenzie has been sold by data analytics provider Verisk to private equity firm Veritas Capital for a $3.1bn cash consideration, payable at closing, plus future additional contingent consideration of up to $200m.
The Edinburgh-headquartered consultancy firm has been providing data and analytics, predominantly on the energy, renewables and natural resources industry, for nearly 50 years.
Often referred to as WoodMac, the business was launched as a stockbroker in 1844 and began researching energy markets during the North Sea oil boom in the 1970s.
