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Member, Beacon International Group, Ltd.
ARLINGTON, Va.Watson Wyatt Worldwide intends to acquire Watson Wyatt Brans & Co., a Dutch actuarial consultant.
The two firms have maintained a close relationship for many years. In 1999, the Netherlands office of Watson Wyatt merged with Brans & Co., to create Watson Wyatt Brans & Co. Since then, Watson Wyatt Brans has operated as a separate partnership as part of Watson Wyatt Worldwide.
"We are delighted to bring our long-term partner in the Netherlands fully into the Watson Wyatt fold. The Netherlands, with its well-funded pensions system, is a base for many multinational companies and a very important territory for the firm," John Haley, president and chief executive officer of Arlington, Va.-based Watson Wyatt, said in a statement.
The partnership has 180 employees located in five Dutch cities: Amsterdam, Eindhoven, Nieuwegein, Purmerend and Rotterdam. It reported 2006 revenues of about $37 million.
Details of the agreement, expected to be signed during the first quarter of this year, were not disclosed.