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Wood Mackenzie inked a deal Tuesday to be purchased by New Jersey data firm Verisk Analytics for $2.8 billion.

Verisk said the acquisition will help it expand its international business and position it in markets closely related to its existing supply chain and climate risk initiatives.

The company will acquire UK-based Wood Mackenzie from its parent company, Hellman & Friedman, and will fund the purchase with $2 billion in debt and $800 million in equity.

“Wood Mackenzie is a world-class company and an excellent addition to the Verisk family,” Verisk president and CEO Scott Stephenson said.

The deal is expected to close during the second quarter 2015.

Current Wood Mackenzie CEO Stephen Halliday will keep his current position and report to Stephenson.

“This combination is a natural home for the business we’ve built over the years and a great opportunity for our customers and employees,” Halliday said.

Wood Mackenzie was founded in 1974 and acquired by California-based Hellman & Friedman in 2012.