NEW YORK - Management consulting giant Oliver Wyman, part of Marsh McLennan (NYSE:MMC), has finalized the acquisition of SeaTec Consulting Inc., a move aimed at bolstering its aviation division, CAVOK. This acquisition, the details of which remain undisclosed, is set to enhance Oliver Wyman's service offerings in the aviation, aerospace, and defense sectors.
SeaTec, recognized for over two decades as a provider of consulting, engineering, and digital services, is expected to complement CAVOK's operational, cost, and reliability solutions for clients. With a base in Atlanta, GA, and additional offices in the US, Canada, and UK, SeaTec's workforce will be integrated into Oliver Wyman, joining the ranks of its 7,000 professionals worldwide.
The consolidation of SeaTec's industry knowledge and technical capabilities with Oliver Wyman's strategic and operational expertise represents a strategic expansion for the consulting firm, which operates in more than 70 cities across 30 countries. The combined capabilities are anticipated to deliver enhanced program life cycle solutions and meet the intricate needs of clients in asset-intensive industries.
Oliver Wyman, a business under the umbrella of Marsh McLennan, a global professional services firm with a workforce of over 85,000 and an annual revenue of $23 billion, continues to advise clients in risk, strategy, and people across various sectors. The acquisition is part of the company's broader strategy to navigate the dynamic market landscape and offer comprehensive risk advisory and organizational performance services.
The information in this article is based on a press release.
InvestingPro Insights
In light of Marsh McLennan's (NYSE:MMC) strategic acquisition of SeaTec Consulting Inc., investors may find the following insights valuable. With a market capitalization of $95.02 billion and a robust revenue growth of 9.73% over the last twelve months as of Q4 2023, MMC's expansion into aviation consulting through Oliver Wyman demonstrates its commitment to diversifying and enhancing its service capabilities.
An important note for dividend-seeking investors is that MMC has not only maintained but also raised its dividend payments for 54 consecutive years, highlighting its financial stability and shareholder-friendly approach. This is underscored by a significant dividend growth of 20.34% over the last twelve months.
InvestingPro Tips for MMC reveal that analysts predict the company will be profitable this year, which aligns with its profitable performance over the last twelve months. Additionally, MMC has been recognized as a prominent player in the Insurance industry, which may provide a stable foundation for its expansion into aviation consulting.
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