Verisk, a global data analytics provider, has acquired Opta, a prominent Canadian property intelligence firm. This move enhances Verisk's Canadian presence and empowers Opta to innovate in risk management. Opta, with over a century's expertise, is pivotal to the insurance sector, offering insights for efficient marketing, underwriting, and risk handling. It's acclaimed for its property valuation, risk intelligence, and fire protection data services. Opta's president, Greg McCutcheon, noted the cultural and technological synergy with Verisk, which will benefit their clientele by leveraging data for a competitive edge. Opta's significant market stance and database complement Verisk's market position, aiming for product integration and improved operational efficiencies. Verisk's COO, Mark Anquillare, emphasized the shared commitment to customer needs and innovation, intending to hasten innovation and add value within the insurance industry. The acquisition not only broadens Verisk's Canadian market reach but also integrates Opta's technologies and services into Verisk's insurance solutions suite, enhancing decision-making and operational efficiency for financial services. Previously part of SCM Insurance Services, backed by Warburg Pincus and TorQuest Partners, Opta was advised by Stikeman Elliott LLP, while Verisk's legal counsel was Osler, Hoskin & Harcourt LLP. Morgan Stanley & Co. LLC provided financial advice for the deal.