Verisk (Nasdaq:VRSK), a leading data analytics provider, announced today it has signed a definitive agreement to acquire BuildFax, a provider of property condition and history data, from its shareholders. The majority shareholder of BuildFax is DMGT (Daily Mail and General Trust [Lon:DMGT]). 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.