Towers Watson, the HR consulting and risk management company, has acquired psychometric assessment business Saville Consulting for £42 million.
Peter Saville, founder and chairman of Saville Consulting, said that his company had grown rapidly over the past decade to the point where more than two million individuals used its online tools over the past year.
“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.”
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.
Its online assessment tools, which have been rated as the most valid indicator of potential and fit, are used in more than 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: “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.”