Watson Wyatt Completes Acquisition of Long-Time Partner in the Netherlands
WASHINGTON, Feb. 2 -- Watson Wyatt Worldwide, a leading global consulting firm, today announced the completion of the acquisition of Watson Wyatt Brans & Co., its long-time alliance partner in the Netherlands.
"We are pleased to complete the acquisition, as the Netherlands, with its strong defined benefit system, is a very important territory for our firm," said John Haley, president and chief executive officer of Watson Wyatt Worldwide. "The integration will enhance our already strong position in Europe and our ability to provide human capital and financial management consulting to our clients."
Watson Wyatt Brans & Co. had approximate revenues of $37 million (Euro 28m) in 2006. It currently has 180 associates in five offices throughout the Netherlands.
The company will further address the acquisition in its second quarter fiscal 2007 conference call at 9:00 a.m. ET on Thursday, February 8, 2007.
Banc of America Securities LLC served as financial adviser to Watson Wyatt Worldwide in connection with the transaction, and ABN AMRO Bank assisted Watson Wyatt Brans & Co.
Watson Wyatt Worldwide
Watson Wyatt (NYSE:WW) is the trusted business partner to the world's leading organizations on people and financial issues. The firm's global services include: managing the cost and effectiveness of employee benefit programs; developing attraction, retention and reward strategies; advising pension plan sponsors and other institutions on optimal investment strategies; providing strategic and financial advice to insurance and financial services companies; and delivering related technology, outsourcing and data services. Watson Wyatt has 6,000 associates in 30 countries and is located on the web at http://www.watsonwyatt.com/.
Watson Wyatt Brans & Co.
Watson Wyatt Brans & Co. is a market leader in the Netherlands for pensions consulting, with prominent pension funds and other blue-chip organizations among its clients. Brans & Co was established in 1945 as an actuarial firm and has extended its services from retirement consulting to incorporate legal aspects of employee benefits and investment consulting to a wide range of clients.
Watson Wyatt Insurance Consulting B.V.
Watson Wyatt will continue to operate a separate Insurance & Financial Services consulting business in the Netherlands.
First Call Analyst:
Source: Watson Wyatt Worldwide
CONTACT: Ed Emerman, +1-609-452-5967, eemerman@eaglepr.com, for Watson Wyatt; or Bruce Wraight of Watson Wyatt, +44 (0) 1737 273370,
+44 (0) 7771 765154, bruce.wraight@watsonwyatt.com
Web site: http://www.watsonwyatt.com/
