PwC plans to swallow Booz & Co in bid to expand its consultancy business
Thursday 31 October 2013
Booz & Co, the world's oldest management consultant, was yesterday swallowed up by PwC, as consolidation in the sector picks up pace.
The US firm, which has 3,000 staff, was founded in 1914 by Edwin Booz, who began his business near his native Chicago. The company was the subject of merger interest from Accenture earlier in the summer.
The deal must be approved by Booz's partners in December and is also likely to attract the attention of regulators. It comes as the UK's big four professional services firms look to spread their business beyond traditional audit and accountancy work. PwC – which sold its previous consulting business to IBM in 2002 – was linked with consultant Roland Berger earlier this year.
Dennis Nally, PwC international chairman, said: "This proposed combination with our existing assurance, advisory and tax capabilities would create a stand-out professional services organisation that delivers first-class quality services to a broad range of stakeholders.
"In particular, it would give CEOs the opportunity to work with a global consulting team that could provide services from strategy development right through to execution."
The Booz Allen Hamilton US Government consulting business was split from the general consulting business in 2008.
- 1 Disney heiress Abigail disowns her share of family profits in West Bank company
- 2 The secret report that helps Israel hide facts
- 3 'Women should not laugh in public,' says Turkey's Deputy Prime Minister in morality speech
- 4 Israel's propaganda machine is finally starting to misfire
- 5 HSBC closes bank accounts belonging to Muslim clients in the UK
A former custard factory, a Midlands bog and a Leeds cemetery all included in top 50 hidden spots in the UK
Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
Disney heiress Abigail disowns her share of family profits in West Bank company
Drew Barrymore’s sister Jessica found dead in her car surrounded by 'dozens of white pills'
'Women should not laugh in public,' says Turkey's Deputy Prime Minister in morality speech
The secret report that helps Israel hide facts
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
A day in the life of Vladimir Putin: The dictator in his labyrinth
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
Boozy, ignorant, intolerant, but very polite – Britain as others see us
- < Previous
- Next >
iJobs Money & Business
£600 - £700 per day + competitive: Orgtel: Senior Investment Accounting Change...
£450 - £650 per day + competitive: Orgtel: My client, a leading bank, is curre...
£350 - £400 per day + competitive: Orgtel: Senior Analyst, ALM Data, Halifax, ...
£500 - £600 per day: Orgtel: Java developer - Banking - London - Up to £600/d...