NU Online News Service, Nov. 11, 1:08 p.m. EST
Global professional services company Towers Watson said it will acquire property and casualty consulting and software company EMB.
Terms of the deal were not disclosed.
EMB, founded in the United Kingdom in 1993, is an actuarial consultancy "dedicated to p&c insurance and the development of high-performance actuarial software." The company also has expertise in other areas, including business consultancy, marketing sciences and enterprise risk management.
EMB has more than 300 employees and, in its fiscal year ending April 2010, had revenues in excess of ?40 million ($64.5 million at current exchange rate).
Towers Watson said the transaction is expected to be completed over the next 60-90 days, and is subject to customary closing conditions, including regulatory approvals. It is not expected to change Towers Watson's financial expectations for the fiscal year.
"The EMB acquisition furthers Towers Watson's strategy to serve clients with increasingly sophisticated risk analytics and consulting solutions," said Patricia L. Guinn, global leader of Towers Watson's Risk and Financial Services segment. "The two companies share traditions of professionalism, service quality and innovation, and we look forward to EMB joining the Towers Watson family."
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