Verisk Analytics in $151m LCI acquisition
Data analytics provider Verisk Analytics said on Aug. 24 that it has signed a definitive agreement to acquire risk insight provider LCI.
Based in Burlingame, California, LCI delivers bankruptcy data and consumer behavioural data, process automation software, expert services, and research to automate expensive processes in the bankruptcy life cycle.
"The acquisition will bring together Verisk's unique proprietary data assets from its Argus business and LCI's high-quality proprietary time-series data, including consumer and commercial bankruptcies, consumer behaviour, and legal and technical terms associated with debtor settlements,” said Nana Banerjee, group president of Verisk Analytics.
“The combination will allow us to introduce a new and exciting range of insights, proprietary decisioning algorithms, and state-of-the-art risk management workflow solutions aimed at addressing a growing need among our banking clients.”
The purchase price is $151 million, to be paid in cash to stockholders of LCI. The transaction is expected to close during the third quarter of 2017, subject to the completion of customary closing conditions.
Chris Lundquist, CEO and president of LCI, added: "LCI is an excellent fit for Argus's sharp focus on advising creditors throughout the account management life cycle."
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