Verisk to acquire AccuLynx
Verisk, a data analytics and technology provider to the insurance industry, has entered into a definitive agreement to acquire AccuLynx for $2.35 billion in cash to augment its network capabilities across the insurance claims and restoration ecosystem.
AccuLynx offers an all-in-one management platform for roofing companies. The platform includes lead generation, sales and CRM, virtual measurements, materials ordering, labor sourcing, payment processing and job management. Most of the company’s customers perform insurance-driven repairs and restoration.
Verisk said that its existing solution, combined with AccuLynx, will offer a variety of benefits such as expanded connectivity and differentiated and rich datasets.
The acquisition is expected to be additive to Verisk’s revenue growth and adjusted EBITDA margin, and accretive to adjusted EPS by year end 2026.
“AccuLynx is a natural fit and extension of the solutions we provide insurance carriers, adjustors and contractors through our Property Estimating Solutions business. Together we have an incredible opportunity to enhance the network effect of these businesses and create significant value for all parties in the insurance claims and restoration ecosystem, from insurers to contractors and policyholders.” – Lee Shavel, president and CEO, Verisk.
“Roofs are one of the largest and most expensive home components, contributing to the resilience of the communities our clients serve. This acquisition enables us to further support this growing market, add value to an interconnected ecosystem and better support the active participants in the claims industry who help policyholders when they need it most.” – Aaron Brunko, president, Verisk Property Estimating Solutions.
“Many of our clients already know and trust Verisk to help them manage jobs efficiently and accurately. Joining Verisk enables us to drive operational efficiency for the contractor and insurance industries and expand the value we provide. We’re thrilled to join the Verisk team and look forward to advancing our shared goals of helping our clients grow their businesses by streamlining their workflows so they can better serve their customers.” – AccuLynx CEO Mike Stein.
“The roofing industry needed a modern, complete business management platform designed by roofers, for roofers. With a team of incredibly loyal people, many of whom have been with us 20 years — we built something extraordinary. I’m incredibly proud of what we’ve created and excited to see AccuLynx join Verisk. The synergies are undeniable — especially between AccuLynx and Xactimate, a tool I relied on heavily from day one. I always envisioned them working together. Now they will.” – Richard Spanton, AccuLynx founder.
