SWEDEN - Watson Wyatt is buying Oakbridge Consulting, a Swedish consultancy specialising in HR, to grow its Nordic business.

Founded by former Watson Wyatt consultant Magnus Drogell in 2004, Oakbridge will be integrated into Watson Wyatt's Stockholm office, currently employing 10 staff.

"This acquisition will enable us to strengthen and broaden our consulting capabilities in the region, enhancing the services we already offer to the large number of Swedish-based global and international companies we are advising in all areas of reward and benefits consulting," said Arne Genschou, managing consultant of Watson Wyatt in Stockholm.

The acquisition will add another three employees to Watson Wyatt's Nordic team and the two consultancies combined will have the "the largest salary database of professional roles in the Nordic region, with over 400 clients," the firm said in a statement.

"Becoming part of Watson Wyatt not only provides the international credentials expected by global companies based in the Nordic region, but enables us to offer to existing Oakbridge clients Watson Wyatt's high-quality global services," commented Magnus Drogell, founder and managing director of Oakbridge Consulting.