Renowned professional services company Towers Watson has acquired proprietary software business Saville Consulting in a deal worth £42 million.

Towers Watson 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.

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.

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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.

Julie Gebauer, global leader for Towers Watson’s Talent and Rewards business segment, said the addition of Saville Consulting’s online assessment tools will help to create “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,” she continued.

Peter Saville, chairman and founder of Saville Consulting, added that the company has “grown rapidly during the past decade”.

“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,” he said. :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.”

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