Private equity firm Symphony Technology Group is picking up the global risk management business of Aon plc (NYSE: AON).
The unit, Aon eSolutions Inc., provides risk, claims and safety software and services. The London-based group has about 300 employees. Symphony has also made an offer to buy the part of Aon Risk Solutions that supports Aon eSolutions. Terms of the transactions were not disclosed.
Symphony is a Palo Alto, California-based private equity firm that focuses on investment in software, Internet services and technology-enabled services companies. The firm, in April, picked up health care data company MDdatacor, which provides data integration and analytics to health care payers and providers.
The acquisition comes as the market for analyzing global risk exposure is growing, says Symphony managing director William Chisholm.
XMS Capital Partners acted as Aon's financial adviser for the deal, while Sidley Austin LLP provided legal advice.