Aon Risk Solutions, the global risk management business of Aon plc, 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, Aon Risk Solutions CEO.
“The evolution of the eSolutions suite of products is critically important to Aon and our clients,” he continued. We are excited to continue working with the eSolutions team to provide our clients with leading RMIS, claims and safety platforms.”
The announcement noted that eSolutions, specializes in “risk, claims and safety software, services and solutions,” and “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.”
eSolutions CEO Kathleen Burns indicated that the Symphony Technology Group would “help us continue growing and evolving our technologies on behalf of clients. 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,” she added.
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.
The Group’s Managing Director William Chisholm praised eSolutions development of its “risk and claims management software platform, serving a majority of the enterprises in the Fortune 1000.”
He also said he believes that 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.
Source: Aon Risk Solutions
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