Towers Watson acquires EMB
by Gill Montia
Story link: Towers Watson acquires EMB
Professional services company, Towers Watson, has agreed to acquire the worldwide operations of EMB, the actuarial consultancy and software provider.
The transaction is expected to complete over the next 60 to 90 days, subject to customary closing conditions, including regulatory approvals.
EMB, which was founded in the UK in 1993, is best known as an advisor to non-life insurers, working with 28 of the top 30 companies in the world.
The firm has also developed analytical and predictive modelling capabilities that allow it to move into other business sectors, such as banking and asset management, fraud prevention and marketing.
Commenting on the acquisition, Towers Watson’s global leader of risk and financial services, Patricia L Guinn, says it “furthers Towers Watson’s strategy to serve clients with increasingly sophisticated risk analytics and consulting solutions”.
She adds: “The two companies share traditions of professionalism, service quality and innovation, and we look forward to EMB joining the Towers Watson family.”
The acquisition is expected to be slightly dilutive to Towers Watson’s adjusted diluted earnings per share in the fiscal year ending 30th June 2011, but does not change the company’s financial expectations for the fiscal year.