International audit, tax and advisory firm KPMG, with offices on Summer Street in Stamford, recently said it has entered into an agreement with Towers Watson, a talent and human capital professional services company, to acquire the Towers Watson Human Resources Service Delivery practice. The deal marks KPMG”™s sixth venture into HR via acquisition in the last four years.
Financial terms were not disclosed. Towers Watson, which has offices in Stamford and in White Plains, has 16,000 employees globally; KPMG has 162,000, with 9,000 of them partners.
“We are excited to have this experienced group of industry-leading HR consultants join the KPMG team,” said Stephen N. Chase, U.S. management consulting leader of KPMG”™s advisory practice, in a statement. “With talent and culture change topping company board agendas, business leaders are looking for providers who understand the linkage between HR management and broader business goals.”
KPMG said it will be acquire Towers Watson”™s HRSD practice resources in the U.S., U.K., China, Hong Kong, Canada, Singapore and the Philippines.
The acquisition marks KPMG”™s sixth transaction in what it terms “the HR transformation space” in the past four years. In addition to Towers Watson”™s HRSD practice, the firm has acquired EquaTerra, Optimum Solutions, The Hackett Group”™s Oracle Enterprise Resource Planning practice, Zanett Consulting Solutions and the Workday practice of Axia Consulting.
“Our practice helps clients create the optimal HR function by aligning their people, processes and technology. We”™re a team that”™s passionate about our clients”™ success,” said Mike DiClaudio, global leader of Towers Watson”™s HRSD practice, in a statement. “Our capabilities and experience fit very well into KPMG”™s strategy and organization. We are excited to continue helping HR leaders improve the quality and efficiency of the services they provide to their organization.”
The transaction was signed July 9 and is expected to close in the coming weeks.
