ARLINGTON, Va.--(BUSINESS WIRE)--Oct. 1, 2015--
Towers Watson (NASDAQ:TW), a global professional services company,
announced the completion of its acquisition of Brovada, a Canadian
technology provider for property & casualty (P&C) insurers and
brokerages. The acquisition will enhance Towers Watson’s capabilities
across its portfolio of software targeted at the P&C market.
“Brovada’s capabilities around portals, market connectivity, data
movement and legacy system integrations dovetail extremely well with our
existing analytical and software solutions for insurers,” said Eric
Speer, global leader for Towers Watson’s Risk and Financial Services
business segment. “Brovada will allow us to expand our solutions,
enabling us to offer insurers a broader suite of products via
software-as-a-service and cloud-based technologies.”
Brovada will operate as a separate unit within the company’s Risk
Consulting and Software business, part of its Risk and Financial
Services business segment. Brovada’s founder and CEO, Karl Greenlaw,
will continue to lead the Brovada team.
“We’re very excited to join Towers Watson and help sustain its mission
in providing high-value advisory services and solutions to the insurance
industry and related sectors,” said Greenlaw. “Most importantly, our
values are aligned. Both organizations share the same laser focus on
clients and the ability to move the market forward through innovative
solutions and technology.”
About Towers Watson
Towers Watson (NASDAQ: TW) is a leading global professional services
company that helps organizations improve performance through effective
people, risk and financial management. With 16,000 associates around the
world, the company offers consulting, technology and solutions in the
areas of benefits, talent management, rewards, and risk and capital
management. Learn more at towerswatson.com.
About Brovada
Brovada specializes in connectivity, integration and business process
improvement for P&C insurance carriers, managing general agents, and
insurance brokers and agencies. Our capabilities include portals, policy
and claim system conversions and integrations, book portfolio transfers,
and upload and download. As the leader in P&C connectivity, we are
committed to transforming the way the insurance industry does business.
Learn more at http://canada.brovada.com.
Forward-Looking Statements
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. These statements include, but are not limited to, the
benefits of the business combination transaction involving Towers Watson
and Willis Group, including the combined company’s future financial and
operating results, plans, objectives, expectations and intentions, and
other statements that are not historical facts. Such statements are
based upon the current beliefs and expectations of Towers Watson’s and
Willis Group’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: the
ability to obtain governmental approvals of the transaction on the
proposed terms and schedule; the failure of Towers Watson stockholders
and Willis Group shareholders to approve the transaction; the failure of
the transaction to close for any reason; the risk that the businesses
will not be integrated successfully; the risk that anticipated cost
savings and any other synergies from the transaction may not be fully
realized or may take longer to realize than expected; the potential
impact of the announcement or consummation of the proposed transaction
on relationships, including with employees, suppliers, customers and
competitors; changes in general economic, business and political
conditions, including changes in the financial markets; significant
competition; compliance with extensive government regulation; the
combined company’s ability to make acquisitions and its ability to
integrate or manage such acquired businesses. Additional risks and
factors are identified under "Risk Factors" in Towers Watson’s annual
report on Form 10-K filed on August 14, 2015, and under "Risk Factors"
in the joint proxy statement/prospectus filed on August 27, 2015, each
of which is on file with the Securities and Exchange Commission.
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. Neither Towers Watson
nor Willis Group undertakes 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151001005277/en/
Source: Towers Watson
Towers Watson Media
Josh Wozman, +1 703-258-7670
josh.wozman@towerswatson.com
or
Towers
Watson Investor Relations
Aida Sukys, +1 703-258-8033
aida.sukys@towerswatson.com