LONDON, NEW YORK, 27 April 2015 - Towers Watson (NASDAQ:TW), a global professional services company, has acquired Saville Consulting, an international psychometric assessment business, for £42 million.
Julie Gebauer, global leader for Towers Watson’s Talent and Rewards business segment, said: “With the addition of Saville Consulting’s market-leading online assessment tools to our suite of HR software, data, analytics and advice, we have a powerful offering to address the big and growing area of leadership and talent. Saville Consulting’s portfolio adds online tools which test ability, assess potential and screen for behavioural strengths. In combination with our engagement and talent software, we can readily help companies that want efficient, technology-enabled solutions to identify and develop talent.”
Founded in 2004, Saville Consulting is highly regarded internationally for its occupational psychology expertise and proprietary software, which help organisations recruit and develop talented individuals and teams. Its online assessment tools, which have been rated as the most valid indicator of potential and fit, are used in over 80 countries worldwide. Saville Consulting’s revenues for its financial year ending December 2015 are expected to be in excess of £10 million.
Peter Saville, Chairman and Founder of Saville Consulting, said: “Saville Consulting has grown rapidly during the past decade to a point where over two million individuals used our online tools in the past 12 months. To further accelerate our growth and significantly extend the use of our tools, we need greater reach, which we will gain as being part of Towers Watson. In addition, Towers Watson and Saville Consulting complement each other strategically, and I’m confident that our clients will experience the same commitment to excellence and innovation.”
Saville Consulting will operate its business as usual for the foreseeable future to preserve continuity of client teams and services.
Julie Gebauer added: “While we will ensure that our clients receive seamless service, we will also focus on opportunities to leverage the resources and expertise of the combined organisations to develop new products and services that help our clients build strong leadership and talent.”
This transaction does not change Towers Watson’s financial expectations for the fiscal year 2015.
About Towers Watson
Towers Watson (NASDAQ: TW) is a leading global professional services company that helps organisations improve performance through effective people, risk and financial management. With 15,000 associates around the world, the company offers consulting, technology and solutions in the areas of benefits, talent management, rewards, and risk and capital management.
About Saville Consulting
Saville Consulting is an international assessment business founded in 2004 by Professor Peter Saville. We work with organisations to identify, select and develop talented individuals and teams. Our vision is to transform assessment around the world with leading edge psychometrics. All our assessments have been developed based on extensive research into what drives successful workplace performance. Learn more at: www.savilleconsulting.com.
This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements and other forward-looking statements in this document by words such as “may”, “will”, “would”, “expect”, “anticipate”, “believe”, “estimate”, “plan”, “intend”, “continue”, or similar words, expressions or the negative of such terms or other comparable terminology. Such statements are based upon the current beliefs and expectations of Towers Watson's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements.
The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: a decline in client demand (for example, resulting from the reduced use of defined benefit plans); the risk of a disclosure breach of company or client data; the risk of translation exposure impacting our results, arising from foreign currency exchange and interest rate fluctuations and volatility; the ability to successfully make suitable acquisitions and divestitures; the risk that the acquisitions of Saville or other acquisitions are not profitable or otherwise successful; or are not successfully integrated; our ability to protect client data and our information systems; our ability to respond to rapid technological changes; the ability to recruit and retain qualified employees and to retain client relationships; and the risk that a significant or prolonged economic downturn could have a material adverse effect on Towers Watson's business, financial condition and results of operations. Additional risks and factors are identified under “Risk Factors” in Towers Watson’s most recent Annual Report on Form 10-K filed with the SEC.
You should not rely upon forward-looking statements as predictions of future events because these statements are based on assumptions that may not come true and are speculative by their nature. Towers Watson does not undertake an obligation to update any of the forward-looking information included in this document, whether as a result of new information, future events, changed expectations or otherwise.