Aon To Buy US Cyber Risk Management Firm Stroz Friedberg; Terms Not Disclosed

(RTTNews) - Aon plc (AON), a provider of risk management, insurance brokerage and reinsurance brokerage, Tuesday said its risk management business Aon Risk Solutions has entered into an agreement to acquire all of Stroz Friedberg Inc., a US risk management firm. Financial terms were not disclosed and the acquisition is subject to customary closing conditions.

Stroz Friedberg is based in New York City, with offices across the U.S. and in London, Zurich, Dubai and Hong Kong. Following the deal, Stroz Friedberg's more than 550 employees will join Aon's Cyber Solutions Group. Michael Patsalos-Fox, Stroz Friedberg's CEO, will become the CEO and co-chair of Aon's Cyber Solutions Group. John Bruno, Aon's executive vice president of enterprise innovation and chief information officer, will join Patsalos-Fox as co-chair of this new group.

Aon expects the combination with Stroz Friedberg will extend its industry-leading position in cyber risk brokerage and creates a comprehensive Cyber Risk Management Advisory Group.

Integrating Stroz Friedberg's cyber security governance and advisory services, including its penetration testing, incident response, digital forensics, eDiscovery and due diligence capabilities, will position Aon as the global leader in cyber risk management, the firm noted.