Verisk and SAP Announce Strategic Partnership to Reimagine Product Compliance
Verisk to Acquire SAP's Content as a Service (CaaS) Business to Strengthen Partnership
JERSEY CITY, N.J., and WALLDORF, Germany, February 25, 2019 - Verisk (Nasdaq:VRSK), a leading data analytics provider, and SAP SE (NYSE:SAP) today announced they have entered into a strategic partnership to codevelop the next generation of product compliance solutions. The partnership agreement is strengthened by Verisk signing a definitive agreement to 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, a Verisk business focused on providing intelligent compliance solutions in the environmental health and safety (EHS) and product compliance space. The acquisition significantly accelerates Verisk 3E's efforts to become the premier provider of integrated content, expertise, and services for the EHS and product compliance industry and expedites its growth strategy. Both the partnership and the acquisition extend Verisk 3E's global customer footprint and European operations.
The partnership expands Verisk 3E's ability to power SAP's Product Compliance platforms (including the respective parts of S/4HANA) 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," said 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."