Verisk, which provides data analytics services to the insurance, energy and specialized markets, and financial services industries, has signed a definitive agreement to acquire BuildFax, an Austin, Texas-based provider of property condition and history data, from its shareholders. The majority shareholder of BuildFax is DMGT (Daily Mail and General Trust).
BuildFax will become part of ISO, a Verisk business, and will enhance ISO’s existing property data and analytics.
BuildFax uses building permit, contractor and inspection data to provide critical information about the condition of properties to some of the largest insurance and financial institutions in the world. The data from BuildFax will enhance ISO’s robust property analytics while helping underwriters gain insight into changes in the buildings they insure.
The transaction is subject to the completion of customary closing conditions.
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