Broking giant Willis this week snapped up ebusiness products and services provider Wire for an undisclosed sum.

Wire specialises in services for the insurance and risk management markets. The company's products include risk management portals RSX and Artemis and the weather derivatives exchange

Willis chief executive Joe Plumeri said: "Wire will play a key role in ensuring that we are at the forefront of ebusiness developments in this exciting growth area."

Following the takeover, Wire's management team of Rowan Douglas, Simon Gaffney and Charles Stewart will join Willis.

Wire will also move from its offices in Brighton to London, where it will be linked into Willis' other operations in the US, Europe and Asia Pacific.