(Reuters) -Verisk agreed to acquire cloud-based software platform AccuLynx for $2.35 billion in cash, it said on Wednesday, as the data analytics and technology company aims to strengthen its tools for property claims.
The move comes amid increasing digitization across insurance-related industries, with companies seeking to reduce manual processes and accelerate turnaround times on claims.
The acquisition is expected to add to Verisk’s revenue growth and adjusted EBITDA margin, and also to adjusted EPS by year-end 2026.
The deal, expected to close by the end of the third quarter, will be funded through a combination of cash on hand and committed debt financing, Verisk said.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Shailesh Kuber)
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