logo-loader

Verisk Analytics To Buy Privately-Held 3E Company For $110 Million

Last updated: 01:20 08 Dec 2010 GMT, First published: 02:20 08 Dec 2010 GMT

no_picture_pai

Verisk Analytics (Nasdaq:VRSK), a provider of  risk assessment services and decision analytics based in New Jersey, said today it will buy privately-held 3E Company, a provider of services that help companies comply with workplace safety and product safety regulations, for $110 million. 

3E, with more than 5,000 customers, provides a suite of compliance solutions that span the product life cycle and supply chain.  3E, based in California, also has a database of about 3.7 million material safety data sheets and a global regulatory database of more than 0.3 million potentially hazardous substances.

"Supply chain is a 21st century risk, and its complexities are enormous. By adding environmental health and safety aspects as well as a global footprint to our supply chain toolkit- which already includes transportation and retail risk solutions-we are taking a significant step toward internalizing the data and skill sets relevant to our current and future customers," said said Scott Stephenson, the COO of Verisk.

After the buyout, Bob Christie, who has been 3E’s CEO since 2004, will continue to run the company.

Verisk said it will use its cash on hand and its revolving credit facility to fund the purchase.   As of September 30, the company had roughly $107 million in cash and cash equivalents. 

The deal is not expected to have an impact on its adjusted 2011 earnings per share, Verisk said.

The transaction, subject to 3E shareholder and regulatory approvals, is expected to close this month.

On Tuesday, Verisk’s shares closed higher by almost 2% to trade at $32.51.

Ariana Resources updates resource and reserve; realises long-term strategy

Joining Jonathan Jackson in the Proactive studio is Ariana Resources PLC (AIM:AAU) managing director Kerim Sener, who sits down to discuss the latest resource and reserve update for the Zenit Mining Operations in Western Türkiye. The update encompasses the Kiziltepe and Tavsan sectors, operated...

5 hours, 34 minutes ago