Press Release
Weichert Relocation Resources Agrees to Acquire PricewaterhouseCoopers' Global Mobility Services
4/17/2006
MORRIS PLAINS, N.J. – Weichert Relocation Resources Inc. has reached an agreement with PricewaterhouseCoopers LLP (PwC) to acquire its Global Mobility Services practice in the United States. This acquisition positions Weichert Relocation Resources as the country’s leading assignment management and expatriate administration service provider.
“This acquisition is compelling on two fronts,” said Aram Minnetian, President and CEO of Weichert Relocation Resources. “First, it significantly broadens our footprint and scope of capabilities. Secondly, it allows us to integrate and leverage PwC’s expatriate administration expertise, resources and experience to offer our clients an even wider range of international assignment services, and the convenience of a true one-stop solution for virtually any global mobility need.”
“We are very pleased that a company of Weichert Relocation Resources’ quality is acquiring our U.S. Global Mobility Services practice,” said William F. Owens, National Leader of PwC’s International Assignments practice. “We believe that Weichert Relocation Resources will build upon our twenty-five year legacy in the expatriate administrative outsourcing business, and generate many immediate and long-term benefits to our clients and staff.”
With this acquisition, Weichert Relocation Resources is equipped to meet the increased demand for comprehensive mobility solutions that allow companies to consolidate their domestic and international relocation programs under one single supplier, and also address the complex issues inherent in international relocation.
PwC’s staff of assignment administration professionals will join Weichert Relocation Resources’ U.S. operations, creating an unparalleled in-house team of global mobility subject matter experts.
“Our merged practice will provide employees of both companies with a richer environment for collaboration, enabling even greater innovation and cost-saving solutions for our clients throughout the world,” said Jane Malecki, Senior Vice President, Weichert Relocation Resources. “In addition, our state-of-the-art international assignment technology solution will provide clients with an expanded menu of online tools, a robust cost projection engine, and the industry’s highest level of data integrity and financial compliance.”
“The convergence of these industry leaders offers unprecedented opportunities for clients of both businesses,” said Jim Schneider, Senior Vice President, Weichert Relocation Resources. “Separately, Weichert Relocation Resources and PwC have achieved tremendous results. The combination of our business with PwC’s U.S.-based practice will allow WRRI to advance the global mobility industry in ways never before possible.”
About Weichert Relocation Resources: Weichert Relocation Resources Inc. (WRRI) delivers turnkey workforce mobility solutions to some of the world’s leading corporations and their employees. With a service reach encompassing over 120 countries, WRRI serves 500 clients throughout the world. The company’s service offerings include domestic relocation services, international assignment services, real estate management and resale services, financial services, payroll and tax services, household goods move management services, consulting services and group move management services. WRRI has offices worldwide and more than 500 employees. For more information, visit www.wrri.com.