US-based global professional services company Towers Watson today said that it will acquire UK's risk software and consulting firm EMB, for an undisclosed sum.
Founded in 1993, EMB is the first actuarial consultancy dedicated to property and casualty (P&C) insurance and the development of high-performance actuarial software.
Its core expertise is in non-life insurance analytics as well as business consultancy, marketing sciences and enterprise risk management.
With 4,000 licensed users in 53 countries, EMB's software products are well established in such important P&C areas as financial modeling, pricing and reserving.
EMB has more than 300 employees and, in its fiscal year ending April 2010, had revenues in excess of £40 million.
New York-based Towers Watson said that the acquisition will complement and expand its software portfolio of such products as RiskAgility, MoSes, Simulum and Pretium, among others.