Global advisory, broking, and solutions company WTW announced today the acquisition of fintech startup Butterwire in a deal aimed at boosting WTW’s position as a provider of climate risk analytics.

Based in Glasgow, Scotland, Butterwire provides data analytics, AI and machine learning platforms, aimed at enabling investors to analyze fundamental, macro, quant and trend data. The acquisition brings a team of research, data science and software engineering professionals to WTW complementing the firm’s wider climate and investment services.

Butterwire will become a part of WTW’s Climate and Resilience Hub, which delivers analytics, advice and transactions services to corporate, finance and public sector institutions.

David Nelson, Senior Director, Climate Transition Analytics, Climate and Resilience Hub at WTW, said:

“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.”

The acquisition follows a long-term partnership between the firms, with Butterwire’s software already incorporated in WTW’s Climate Transition Value at Risk methodology, which quantifies the expected impact on equity and fixed-income valuations of adhering with the targets of the Paris Agreement, and underpinning WTW’s STOXX Climate Transition Indices, launched last year to help investors, governments and companies to manage and address the financial risks of the climate transition.

Raphael Fiorentino, CEO and Founder of Butterwire, said:

 “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.”