NEW YORK--(BUSINESS WIRE)--May 15, 2003--The world's largest corporate immigration law firm, Fragomen, Del Rey, Bernsen & Loewy (FDB&L), today announced that it has acquired PricewaterhouseCoopers' (PwC) Global Visa Solutions (GVS) business unit in Australia.
This transaction, the first of its kind in which a US law firm has acquired a business unit of a Big Four accounting firm, was motivated by the firm's interest in international expansion to serve client needs. PwC's Global Visa Solutions business in Australia was acquired by Fragomen Global Immigration Services (Fragomen Global), a new global affiliate formed by FDB&L.
Generally regarded in the industry as the largest Visa and Immigration services provider in Australia with the widest geographic coverage, PwC's Australian Global Visa Solutions practice provides immigration advice and assistance to corporations and high net-worth individuals, and is the leading commercial immigration consultancy in their market.
"Our acquisition of Global Visa Solutions from PricewaterhouseCoopers in Australia is an important strategic step for our firm," said Austin Fragomen, Co-Managing Partner of Fragomen, Del Rey, Bernsen, & Loewy. "This transaction gives Fragomen Global immediate critical mass in the corporate immigration services marketplace in Australia. Our expansion into this important market increases our geographic coverage in the Asia Pacific region, complementing our existing offices in Hong Kong and Singapore."
"This purchase was driven by our desire to build upon our commitment to offer a seamless solution to meet our clients' worldwide immigration needs," Fragomen added.
Pauline Mathewson, formerly head of PwC's Global Visa Solutions worldwide, will join the firm as a director of Fragomen Global. "This is a true market-making move. We bring together the skills, knowledge, relationships and talent of the leading immigration services provider in Australia with the world's leader in immigration law," commented Mathewson. "The goal is to build a truly global commercial immigration practice that will provide unparalleled client service both here in the Australian marketplace, as well as for companies in the United States with interests throughout the Asia-Pacific region."
About Fragomen, Del Rey, Bernsen, & Loewy
Founded in 1951, Fragomen, Del Rey, Bernsen & Loewy, is the world's largest firm practicing exclusively in the area of global immigration and nationality law for the corporate sector. Through more than 140 lawyers and 650 staff in 20 offices worldwide, the firm provides immigration services to multinational corporations and emerging companies, as well as to universities and other major organizations that employ foreign nationals on a temporary or permanent basis in the United States or overseas. Additional information can be obtained at www.fragomen.com
About Global Visa Solutions Australia
GVS provides immigration advice and assistance to corporations and high net-worth individuals and is the market-leading commercial immigration consultancy in Australia. Client services include:
-- advice on visa requirements inbound to Australia
-- total management of visa applications for Australia
-- Negotiations with government on labour and Regional HQ agreements for international relocation programs involving Australia
-- Expert consulting services in all aspects of Australian immigration law
PricewaterhouseCoopers (www.pwcglobal.com) is the world's largest professional services organization. Drawing on the knowledge and skills of more than 125,000 people in 142 countries, we build relationships by providing services based on quality and integrity.
("PricewaterhouseCoopers" refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.)
Representatives from Fragomen are available to comment on the deal. Please contact Spencer Baretz (Tel: 212/572-9627) to arrange interviews.