Aon has completed the $4.3 billion cash sale of its benefits administration and HR business process outsourcing platform to Blackstone-affiliated private equity funds.

The sale will generate up to $500 million more, based on future performance.

Total after-tax cash proceeds were approximately $3.0 billion after customary working capital and other adjustments, Aon said in a statement.

Aon plc President and CEO Greg Case said the sale and resulting cash infusion will help it invest in its data and analytics capabilities in terms of expanding products and services.

“The incremental capital we have generated allows us to accelerate investment in our proprietary data and analytics capabilities and pursue new opportunities to address emerging client needs,” Case said in prepared remarks.

Case added that Aon has pursued this strategy also in regards to “recent acquisitions in the cyber risk advisory and health solutions space.”

Source: Aon