Quick Take
Verisk Analytics (VRSK) has announced the proposed acquisition of FAST for $193.5 million.
FAST has developed a SaaS family of software tools for modernizing insurance company policy administration processes.
VRSK is acquiring FAST to assist life insurers in transitioning to a more capable technology stack and offer the firm’s other services.
The stock has come off recent 52-week highs and is still pricey at its current level, so my bias is NEUTRAL.
Target Company
Iselin, New Jersey-based FAST was founded to develop a suite of components that enable insurance companies to