WASHINGTON, June 13 /PRNewswire-FirstCall/ -- Watson Wyatt Worldwide, a leading global consulting firm, announced today its intention to acquire WisdomNet, a Denver-based talent management solution and consulting firm.
Founded in 2001, WisdomNet offers a proprietary line of business software products, including an end-to-end solution for managing organizations' talent management processes. These applications will increase Watson Wyatt's capabilities in the talent management technology area by linking and delivering compensation planning, performance management, succession planning, career development and workforce planning functionality - all within one firm. They will also complement Watson Wyatt's current suite of compensation management, performance review and benefits administration solutions.
"We are very pleased to make WisdomNet a part of Watson Wyatt, especially as tight labor markets spur demand for talent management services," said Paul Platten, global practice director of Watson Wyatt's human capital group. "The acquisition supports Watson Wyatt's vision to deliver a comprehensive suite of global people management services to our clients that combines our deep domain expertise and consulting with software and data solutions."
"It's exciting to join a company with the global reach of Watson Wyatt," added Brian Wilkerson, co-founder of WisdomNet. "Watson Wyatt shares our philosophy. We both put priorities on clients, quality and integrity by delivering real value through world-class consulting and cutting-edge technology."
Richard Hubbard, North American practice director of Watson Wyatt's technology and administration solutions practice, said: "Helping companies manage their talent is a very important area of growth for Watson Wyatt. With WisdomNet's talent management application, we can offer an immediate solution to deliver to the market. At the same time, we can develop and integrate additional functionality that enhances our well-regarded global REWARD suite of compensation administration software and our global data services."
All of WisdomNet's principals - Brian Wilkerson, Gregg Wilkerson and David Schleupner - will join Watson Wyatt. The deal is expected to close in July 2007.
About Watson Wyatt
Watson Wyatt is the trusted business partner to the world's leading organizations on people and financial issues. The firm's global services include: managing the cost and effectiveness of employee benefit programs; developing attraction, retention and reward strategies; advising pension plan sponsors and other institutions on optimal investment strategies; providing strategic and financial advice to insurance and financial services companies; and delivering related technology, outsourcing and data services. Watson Wyatt has 6,000 associates in 30 countries and is located on the Web at http://www.watsonwyatt.com/ .
About WisdomNet, Inc.
WisdomNet has built a reputation for innovative and appropriate solutions and an unparalleled level of expertise. Its track record of results and technology innovations have made it a fast-growing government and corporate solutions provider. Its software products include I-TMS(TM) for Talent Management and Workforce Impact(TM) for leading-edge Workforce Planning. To learn more about WisdomNet, view its Web site at http://www.wisdomnet.net/ .
