- WTW (NASDAQ: WTW) announced it is buying Butterwire, a FinTech provider of data analytics, artificial intelligence (AI) and machine learning platforms. This is why.
WTW (NASDAQ: WTW) announced it is buying Butterwire, a FinTech provider of data analytics, artificial intelligence (AI) and machine learning platforms. This move will further strengthen WTW’s world-leading capabilities in delivering climate risk analytics to organisations around the world.
Butterwire’s team of research, data science, and software engineering professionals offers a unique skill set and cutting-edge capabilities that complement WTW’s wider climate and investment services. And using these capabilities, WTW clients will be able to manage climate-related financial risks at scale and speed. Based in Glasgow, Scotland, the financial analytics company will integrate with WTW’s Climate and Resilience Hub.
Butterwire software already incorporates WTW’s proprietary Climate Transition Value at Risk (CTVAR) methodology – which quantifies the anticipated impact on equity and fixed-income valuations of aligning with the goals of the Paris Agreement. And the company also provides the platform underpinning the STOXX Climate Transition Indices (CTI), launched by WTW in 2021 to help investors, governments, and companies manage climate transition risk, capture opportunities in their portfolios, and work towards Net Zero targets.
KEY QUOTES:
“We are delighted that the highly talented Butterwire team is joining WTW. They have been working closely with our team for a number of years, and bring proven capabilities that open significant opportunity. This acquisition enhances our ability to bring clients best-in-class products and solutions to help them achieve a climate-resilient future.”
— David Nelson, Senior Director, Climate Transition Analytics, Climate and Resilience Hub at WTW
“WTW is a world leader in risk management and this vote of confidence leads us to the next stage of our evolution. I’m hugely excited by the potential that WTW’s acquisition of Butterwire brings and look forward to continuing our work alongside colleagues within the Climate and Resilience Hub, which has already achieved an unrivalled breadth and depth of climate expertise and capabilities.”
— Raphael Fiorentino, CEO and Founder of Butterwire
