Aon Acquires Valley Oak Systems
19 Marzo 2007 - 10:45PM
PR Newswire (US)
Unrivaled End-to-End Claims and RMIS Offering CHICAGO, March 19
/PRNewswire-FirstCall/ -- Aon Corporation (NYSE:AOC) today
announced it has completed the acquisition of Valley Oak Systems of
San Ramon, California. The terms of the transaction were not
disclosed. (Logo:
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO ) Valley
Oak Systems (VOS), a leader in claims management software,
services, and support for the insurance industry, will operate
under the Aon eSolutions Group as an independent subsidiary. Its
flagship product, iVOS, the "one-system" claims management
solution, will integrate with RiskConsole, Aon's risk management
information system (RMIS), to share information and provide a
comprehensive analysis of claims, policy, and exposure data. "We
selected Valley Oak Systems due to our similar business
philosophies and the strategic fit of our market-leading systems,"
said Greg Case, Aon president and chief executive officer. "Our
mutual focus on delivering service, expertise, and business value
will enable a synchronized effort toward building a comprehensive
RMIS that offers a 360-degree view of risk and cost-containment at
the individual claims level." eSolutions' Managing Director Kathy
Burns said, "Independently, Valley Oak Systems and Aon eSolutions
will continue to operate as the leading providers in their
respective markets, but together we'll provide an integrated
offering that addresses a currently overlooked need in the market
-- the need for an end-to-end, browser-based solution that manages
complex claims and controls the total cost of risk. This combined
iVOS and RiskConsole suite will be the only solution of its kind in
the global market." Randy Wheeler, founder and chief executive
officer of Valley Oak Systems, said, "The acquisition will expand
our capabilities in meeting the needs of our existing client base,
by offering Aon's risk management expertise and systems. At the
same time, we plan to leverage Aon's premier distribution network
and existing relationships with insurance carriers and TPAs to
accelerate our growth, globalize the iVOS solution, and explore
ongoing synergies between our organizations." About Aon Aon
Corporation ( http://www.aon.com/ ) is a leading provider of risk
management services, insurance and reinsurance brokerage, human
capital and management consulting, and specialty insurance
underwriting. There are 43,000 employees working in Aon's 500
offices in more than 120 countries. Backed by broad resources,
industry knowledge and technical expertise, Aon professionals help
a wide range of clients develop effective risk management and
workforce productivity solutions. About Valley Oak Systems, Inc.
Founded in 1994, Valley Oak Systems ( http://www.valleyoak.com/ )
provides high quality software that enables its clients to achieve
outstanding claims management performance. Due to its
client-focused approach, Valley Oak Systems has established itself
as an industry leader, and its iVOS claims system has been
recognized for its business impact with the 2006 IASA Technology
Achievement Award. Media contact: Al Orendorff 312.381.3153
http://www.aon.com/newsroom Cynthia Chow 925-242-4600 This press
release contains certain statements related to future results, or
states our intentions, beliefs and expectations or predictions for
the future which are forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from either historical or anticipated results depending on a
variety of factors. Potential factors that could impact results
include: general economic conditions in different countries in
which we do business around the world, changes in global equity and
fixed income markets that could affect the return on invested
assets, fluctuations in exchange and interest rates that could
influence revenue and expense, rating agency actions that could
affect our ability to borrow funds, funding of our various pension
plans, changes in the competitive environment, our ability to
implement restructuring initiatives and other initiatives intended
to yield cost savings, our ability to execute the stock repurchase
program, our ability to obtain regulatory or legislative changes to
permit continuous sales of our supplemental Medicare health
product, changes in commercial property and casualty markets and
commercial premium rates that could impact revenues, changes in
revenues and earnings due to the elimination of contingent
commissions, other uncertainties surrounding a new compensation
model, the impact of investigations brought by state attorneys
general, state insurance regulators, federal prosecutors, and
federal regulators, the impact of class actions and individual
lawsuits including client class actions, securities class actions,
derivative actions, ERISA class actions, the impact of the analysis
of practices relating to stock options, the cost of resolution of
other contingent liabilities and loss contingencies, and the
difference in ultimate paid claims in our underwriting companies
from actuarial estimates. Further information concerning the
Company and its business, including factors that potentially could
materially affect the Company's financial results, is contained in
the Company's filings with the Securities and Exchange Commission.
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO
http://photoarchive.ap.org/ DATASOURCE: Aon Corporation CONTACT: Al
Orendorff of Aon, +1-312-381-3153, , or Cynthia Chow of Valley Oak,
+1-925-242-4600, Web site: http://www.aon.com/
http://www.aon.com/newsroom http://www.valleyoak.com/
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