May 11, 2015
Cadwalader, Wickersham & Taft LLP, a leading counselor to global financial institutions and corporations, is representing Towers Watson (NASDAQ:TW) in its acquisition of Acclaris, a provider of software-as-a-service (SaaS)-based technology and services for consumer-driven health care and reimbursement accounts. The purchase price is $140 million.
Acclaris is headquartered in Tampa, FL, with locations in Kansas and India. Since 2001, its team of over 600 people has worked with a number of employers, health plans, banks and third-party administrators as the technology and services backbone for their account-based benefit offerings. Acclaris administers 1.4 million health care accounts, working with 6,000 employers, including more than 40 Fortune 500 companies.
The Cadwalader team is led by partner William P. Mills, special counsel Joshua Apfelroth and associate Alexandra Cotter (Corporate), partners Linda Swartz and Richard Nugent (Tax), partner Dorothy Auth and special counsel Howard Wizenfeld (Intellectual Property), special counsel Shane Stroud (Executive Compensation & Benefits), and partner Brian McGovern (Health Care) in New York; partner Andy Forman and associate Christian Lorenz (Antitrust) in Washington; and associate Ngoc Pham Hulbig (Antitrust) in Charlotte.