Aon acquires Hewitt Associates

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Chicago—Insurance brokerage Aon Corp. and human resources consulting firm Hewitt Associates announced Monday that Hewitt will merge with its Aon Consulting HR subsidiary. The stock and cash deal is valued at $4.9 billion.

When the transaction closes, according to Aon, the merged Hewitt Associates/Aon Consulting will become Aon Hewitt, a newly created brand. Russ Fradin, chairman-CEO of Hewitt, will be chairman-CEO of Aon Hewitt and report to Greg Case, Aon Corp.’s CEO.

“As we continue to grow our business, this merger will give us a broader portfolio of innovative products and services focused on what we believe are two of the most important topics in the global economy today—risk and people,” Case said in a statement.

On the marketing front, Aon said the combined client base will provide cross-sell opportunities to leverage Hewitt’s large corporate client base with Aon’s middle market client base. Additionally, the Hewitt deal expands Aon’s brand at a time when the company when recently launched its four-year $120 million shirt sponsorship deal with English Premiere League soccer club Manchester United.

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