Verisk Analytics, Inc., Jersey City, N.J., entered into a strategic partnership with SAP Software Solution, Germany, to co-develop the next generation of product compliance solutions. Per the partnership, Verisk will acquire SAP’s content-as-a-service (CaaS) business, which includes the environmental health and safety regulatory content (ERC) and environmental health and safety regulatory documentation (ERD) teams and data assets.
The business will become part of Verisk 3E, focused on providing intelligent compliance solutions in the environmental health and safety (EHS) and product compliance space. The acquisition accelerates Verisk 3E’s efforts to become a provider of integrated content, expertise and services for the EHS and product compliance industry, and expedites its growth strategy.
The partnership also expands Verisk 3E’s ability to power SAP’s product compliance platforms with regulatory content and business logic. Streamlined access to critical regulatory data will benefit Verisk 3E and SAP joint customers by improving consistent compliance with changing global regulations and accelerating the development and launch of safe, innovative products.
“Verisk 3E and SAP are united by our shared mission to empower the SAP community with the products and expertise they require to drive more informed decisions, enable sustainable growth and create a safer world,” says Edmund Webecke, president, Verisk 3E. “The partnership and acquisition make it easier for both companies to advance that mission by integrating SAP’s CaaS business into our already robust solution portfolio and create a comprehensive and reliable offering for the SAP user community. We’re eager to welcome SAP’s ERC and ERD customers to our customer community and look forward to serving them well.”
“Verisk 3E has a long-standing and successful track record of providing SAP EHSM customers with the critical solutions they need to optimize their SAP platform,” says Christoph Behrendt, executive vice president, industry and application innovation, SAP. “We’re delighted to be able to build upon our existing relationship to create even greater value for customers through the combined strengths of our organizations and the people developing and supporting them. This move will allow SAP to focus on providing a best-in-class product compliance software solution complemented by Verisk 3E’s comprehensive content offering.”
“Acquiring SAP’s CaaS business furthers our growth strategy and creates value for our shareholders while also establishing a solid foundation for collaboration with SAP throughout the Verisk enterprise,” adds Scott Stephenson, chairman, president and CEO of Verisk. “The businesses will be a valuable addition to both Verisk and Verisk 3E, and we look forward to working more closely with SAP in the future.”