Verisk Analytics has acquired Sequel from HgCapital and multiple shareholders for a reported £250 million, the companies announced.
The deal, expected to close in the third quarter of 2017, further supports the New Jersey-based company's strategy of growing core offerings for financial services companies through M&A. Verisk has purchased six vendors dating back to November 2016 with specialties ranging from risk modeling and claims processing to geospatial mapping analytics.
Its newest addition, Sequel, is a commercial and specialty insurance core software provider based in London. Some of the vendor’s notable industry clients include Hamilton Insurance Group, Aon and Barbacan Insurance Group, according to the company’s website.
“Sequel’s strong position in the London insurance market will allow Verisk to build on our footprint in the UK, reinforce our deep long-term commitment to a strategic market and expand our customer sets in global insurance markets,” said Mark Anquillare, COO of Verisk Analytics, in a statement.
Sequel CEO Mario Garcia added, “We’re proud to be joining Verisk, whose vast data, experience, and technology capabilities, combined with our leading workflow solutions for complex commercial and specialty insurance, will improve all the services that we offer our customers.”
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