Washington, DC - Following yesterday’s announcement by Verisk Analytics, Inc. that it would abandon  plans to acquire EagleView Technology Corporation, the Director of the Federal Trade Commission’s Bureau of Competition, Deborah Feinstein, said:

“The parties’ decision to abandon this transaction preserves competition in the U.S. market for rooftop aerial measurement products used by the insurance industry to assess property claims. A combination of the only two significant competitors in this market would have likely led to higher prices for both insurance companies and consumers.”

Yesterday the Commission voted 5-0 to file an administrative complaint and authorize staff to seek a temporary restraining order and preliminary injunction in federal court to stop the proposed $650 million acquisition.

The FTC charged that the proposed merger would likely reduce competition and result in a virtual monopoly in the U.S. market for rooftop aerial measurement products used by the insurance industry to assess property claims.