JERSEY CITY, N.J., June 15, 2012 — Verisk Analytics, Inc. (Nasdaq:VRSK), a leading source of information about risk, announced today it has signed an agreement to acquire Minneapolis-based Aspect Loss Prevention, a leading provider of loss prevention software and analytic solutions to the retail, entertainment, and food industries.
Throughout the United States and parts of Europe and Asia, Aspect has saved customers significant amounts of money attributed to internal theft through its state-of-the-art exception-based reporting and analytic techniques. The acquisition will further advance Verisk’s position as a leading provider of loss prevention and risk mitigation solutions to the retail industry.
“Since our acquisition of Enabl-u Technologies and the APIS Case Management product suite in 2009, we’ve observed the growing importance of data and analytics to retailers’ loss prevention operations, and Aspect is a recognized retail industry leader in technology, customer service, and customer satisfaction,” said Vincent Cialdella, president, Verisk Insurance Solutions – Claims and Crime Analytics. “We’re also impressed by the many ways in which retailers use Aspect’s technology to detect and prevent both internal and external theft, monitor and improve operational activities, and reduce other forms of loss. We’re excited by the potential of fully integrating our case management and fraud analytics tools with Aspect’s solutions to help further protect retailers’ profits.”
David Shillingford, president of Verisk Crime Analytics, added, “The acquisition will enhance the analytical tools available to retailers in Verisk’s national crime databases, such as LERPnet [Law Enforcement Retail Partnership Network] and CargoNet®, our national information-sharing system to combat cargo crime.”
“We’re thrilled to be joining a company with such a successful track record in using data management and advanced analytics to help entire industries better understand risk and reduce fraud,” said David Duhaime, CEO of Aspect Loss Prevention. “Verisk’s experience, combined with Aspect’s comprehensive domain expertise, will dramatically enhance our ability to deliver world-class solutions that are responsive to the needs of our customers.”
The net purchase price is $8 million. The transaction is expected to close in June 2012 and is expected to be neutral to adjusted EPS in 2012.
David Duhaime, who has headed Aspect Loss Prevention since 1998, will continue in that role and will lead the retail loss prevention operations of Verisk Crime Analytics.
About Aspect Loss Prevention, LLC
Aspect Loss Prevention has saved retailers significant amounts of money attributed to the reduction of internal theft through its state-of-the-art exception-based reporting and analytic tools and techniques. Aspect’s software is used throughout the United States as well as in Europe and Asia. For more information about Aspect, visit www.aspectlp.com.
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading provider of information about risk to professionals in insurance, healthcare, mortgage, government, and risk management. Using advanced technologies to collect and analyze billions of records, Verisk Analytics draws on vast industry expertise and unique proprietary data sets to provide predictive analytics and decision support solutions in fraud prevention, actuarial science, insurance coverages, fire protection, catastrophe and weather risk, data management, and many other fields. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets. For more information, visit www.verisk.com.
MWW Group (for Verisk Analytics)
Treasurer and Head of Investor Relations
Verisk Analytics, Inc.