Symphony Technology Group has acquired eSolutions from Aon Risk Solutions. No financial terms were discussed. XMS Capital Partners provided financial advice to Aon on this transaction. eSolutions was the risk management information systems business unit of Aon Risk Solutions.
LONDON, Sept. 3, 2014 /PRNewswire/ — Aon Risk Solutions, the global risk management business of Aon plc (NYSE: AON), announced it has sold Aon eSolutions, Inc., its risk management information systems business unit, to an affiliate of Palo Alto-based Symphony Technology Group for an undisclosed amount.
“As the risk management technology space evolves and integration with enterprise software systems continues to expand, it made sense to transition the eSolutions business to owners that focus exclusively on the unique aspects of the software sector in order to continue to empower the best results for our clients,” said Michael O’Connor, chief executive officer of Aon Risk Solutions. “The evolution of the eSolutions suite of products is critically important to Aon and our clients. We are excited to continue working with the eSolutions team to provide our clients with leading RMIS, claims and safety platforms.”
eSolutions, a global leader in risk, claims and safety software, services and solutions, has approximately 300 employees globally. As part of the transaction, Aon Risk Solutions will resell exclusively eSolutions’ iVOS and RiskConsole RMIS solutions to its clients pursuant to a multi-year distribution agreement.
“We are thrilled to partner with Symphony Technology Group to help us continue growing and evolving our technologies on behalf of clients,” said Kathleen Burns, chief executive officer of eSolutions. “With investment from a partner focused on software solutions, we expect to accelerate our innovation and business growth. This means greater resources, more opportunities and a stronger platform, resulting in a more favorable value proposition for our clients.”
Symphony Technology Group is a private equity firm focused on investing in and building leading-edge software, internet services and technology-enabled services companies across the world.
“eSolutions has created a market-leading risk and claims management software platform serving a majority of the enterprises in the Fortune 1000,” said William Chisholm, managing director of Symphony Technology Group. “We believe the market for the company’s products is large and growing due to the increasing importance of managing and analyzing global risk exposure across large and medium-sized enterprises. The combination of eSolutions’ excellent team and our expertise and experience in the technology sector results in an ideal partnership to pursue this market opportunity.”
Symphony Technology Group has also offered to acquire the portion of Aon Risk Solutions’ business in France that has historically supported Aon eSolutions, Inc.
XMS Capital Partners served as financial advisor to Aon in connection with this transaction. Sidley Austin LLP served as Aon’s external legal counsel.
Aon plc (NYSE: AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 66,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world’s best broker, best insurance intermediary, best reinsurance intermediary, best captives manager, and best employee benefits consulting firm by multiple industry sources. Visit aon.com for more information on Aon and aon.com/manchesterunited to learn about Aon’s global partnership with Manchester United.