Jan 5 2011
Towers Watson (NYSE, NASDAQ:TW), a leading global professional services company, announced today the completion of its acquisition of Aliquant, a privately held, full-service health and welfare benefits administration outsourcing firm. The acquisition enables Towers Watson to strengthen its position as a premier provider of high-quality health and welfare benefits outsourcing services.
"We are very pleased to welcome Aliquant's clients and employees to Towers Watson. This acquisition will provide clients with access to a deeper and broader set of benefits outsourcing services and expertise and at the same time enable us to continue to deliver the outstanding service and attention that clients are accustomed to receiving," said Pat Amendola, North America leader of Towers Watson's Technology and Administration Solutions business.
Aliquant was founded in 1985 in Milford, CT, to develop software for the administration of health and welfare benefit plans. Aliquant's service offerings include core administration services, employee contact centers, FSA and COBRA administration and direct billing. Aliquant's clients -- which number more than 75 and range in size from 1,000 to 100,000 employees -- span a variety of industries. For the fiscal year ended September 30, 2010, Aliquant had revenues of approximately $32 million.
The acquisition of Aliquant is expected to be slightly accretive to Towers Watson's adjusted diluted earnings per share in the fiscal year ending June 30, 2011, but does not change the company's financial expectations for the fiscal year.
SOURCE Towers Watson