Verisk to fund PowerAdvocate purchase with bank facility borrowings

New York, Nov. 30 – Verisk Analytics, Inc. plans to fund its $200 million acquisition of PowerAdvocate with borrowings under its existing bank facilities, according to a news release.

The company announced the transaction, which has an additional earnout of $80 million, on Thursday.

Closing is planned for the fourth quarter.

PowerAdvocate is a provider of market, cost intelligence, and supply chain solutions for the energy sector.

Verisk is a Jersey City, N.J. provider of data analytics.

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