JERSEY CITY, N.J., November 17, 2009 — Verisk Analytics (NASDAQ: VRSK) announced today the acquisition of Enabl-u Technologies, a leader in providing loss-prevention services to the retail industry.
Enabl-u offers data management, analytics, and training services used by many leading retailers’ loss-prevention operations. By working closely with retailers and retail industry groups, Enabl-u develops best-in-class, widely used loss-prevention services. More recently, Enabl-u’s technology was adopted as the data-sharing platform for the American Banking Association’s initiative for banks to report, analyze, and share bank robbery, burglary, and ATM crime data among member banks and with law enforcement.
Vincent Cialdella, senior vice president at Verisk’s ISO subsidiary, said, “We were immediately impressed by the robust and flexible nature of Enabl-u’s technology and became even more interested in Enabl-u after speaking to Enabl-u’s clients and retail industry leaders. Our goal is to create significant value for retail and supply chain participants by combining the data management and analytic skills of Verisk with Enabl-u’s technology and our CargoNet™ service. We are pleased to welcome such an outstanding company to our enterprise.”
“We are excited to become part of the Verisk group of companies. There are numerous ways in which Verisk’s resources and expertise allow us to expand the range of services we offer to retailers as well as to take advantage of many other business opportunities,” added Kevin McMenimen, president and CEO of Enabl-u.
The Enabl-u e-learning platform was recently used for the creation and launch of the industrywide retail loss-prevention certification program offered through the Loss Prevention Foundation. The not-for-profit organization is directed by a board of directors comprising key executives from a variety of retail companies ranging from Walmart to Polo Ralph Lauren.
“I have known Enabl-u for more than five years and admire the way they have worked closely with retail industry leaders to develop creative and innovative loss-prevention solutions,” offered Gene Smith, president of the Loss Prevention Foundation. “I have also more recently gotten to know Verisk. In becoming more aware of the company’s significant data management and analytical skills and resources, I am looking forward to the potential benefits this alliance brings to the entire retail loss-prevention industry,” he added.
About Verisk Analytics
Verisk Analytics (NASDAQ: VRSK) is a leading provider of risk assessment solutions to professionals in insurance, healthcare, mortgage lending, government, risk management, and human resources. Verisk Analytics includes the holdings of Insurance Services Office, Inc. (ISO) and its subsidiaries, which provide essential solutions to the insurance, mortgage lending, and healthcare markets.
MWW Group (for Verisk Analytics)
Head of Investor Relations
Verisk Analytics, Inc.