A Towers Watson news release said the completion of the transaction, expected before the end of the year, is subject to customary closing conditions, including regulatory approvals.
According to the announcement, Aliquant was founded in 1985 in Milford, Connecticut, to develop software for the administration of health and welfare benefit plans. Today, Aliquant has more than 200 employees. The company’s clients, which number more than 75 and range in size from 1,000 to 100,000 employees, span a variety of industries.
In addition to core administration services, Aliquant’s offerings include employee customer service call centers, FSA and COBRA administration, direct billing and hardcopy and electronic total compensation statements, the news release said. For the fiscal year ended September 30, 2010, Aliquant had revenues of approximately $32 million.