JERSEY CITY, N.J. and BOTHELL, Wash., September 29, 2014 — Verisk Analytics, Inc. (Nasdaq:VRSK), a leading source of information about risk, and EagleView Technology Corporation (EagleView), a leading provider of aerial imagery, data analytics, and GIS solutions, today announced that the closing of Verisk’s acquisition of EagleView, originally expected to occur by September 30, is still pending. EagleView is the parent company of Pictometry International Corp., and Eagle View Technologies, Inc. Verisk and EagleView continue to work cooperatively with the Federal Trade Commission in connection with its review of the proposed transaction and to obtain regulatory clearance for the acquisition on appropriate terms that reflect the interests of Verisk and EagleView shareholders. Verisk management will provide an update on the progress of those discussions on the third-quarter 2014 earnings call, scheduled for Wednesday, October 29. Verisk and EagleView have extended their purchase agreement through December 31, 2014.
“We continue to believe that aerial imagery is important to our insurance customers and their ability to provide more cost effective solutions for consumers. We’re hopeful we can find a satisfactory conclusion to our process to acquire EagleView,” said Scott Stephenson, president and chief executive officer of Verisk Analytics.
Chris Barrow, CEO of EagleView, said, “We continue to view the proposed merger with Verisk as being in the best interest of our stockholders and customers. We’ll continue to work with Verisk to obtain regulatory clearance for the transaction and to satisfy any remaining closing conditions so that the transaction can be closed as soon as possible.”
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.
EagleView is the unparalleled provider of aerial imagery, data analytics, and GIS solutions serving the commercial, government, and public utility sectors. The company’s patented image capture processes and 3D modeling algorithms coupled with property-centric analytic tools empower end-user workflows with scalable, efficient, and highly accurate answer sets in support of property claims, risk management, construction, emergency response, assessment, corridor mapping, and more. For more information, visit www.eagleview.com or www.pictometry.com.
Senior Vice President, Treasurer, and Chief Knowledge Officer
Verisk Analytics, Inc.
Director, Investor Relations and Business Analytics
Verisk Analytics, Inc.
MWW Group (for Verisk Analytics)