PWC HAS COMPLETED its acquisition of international consultancy business Booz & Co following regulatory and partner approval.
Booz & Company is to join PwC and become part of the PwC Network. The consultancy will rebrand to Strategy &, which will be used alongside the PwC name and brand. Strategy & will have its own logo which will sit aside the PwC logo.
The company has already rebranded its website to Strategy &.
Strategy &’s board of directors will be bolstered with the appointment of Tony Poulter, PwC partner and global consulting leader. The executive board of Strategy & will also see two PwC partners take up additional roles.
PwC has revenues of $32bn and a global workforce of 184,235, according to finance figures for the year ended 30 June 2013, while Booz has about 3,000 staff, 130 partners internationally, 15 of which are UK-based.
Dennis Nally (pictured), chairman of PricewaterhouseCoopers International, said: “Today signifies an important step for PwC, our clients and stakeholders… Together PwC and Strategy& meet this need – delivering superior value to our clients and stakeholders, attracting premium talent and helping businesses around the world build their capabilities on a global scale.”
“This combination of PwC and Strategy & will see PwC lead the way in changing the landscape of the global consulting business.”
According to the latest Accountancy Age Top50+50 data consulting has increased exponentially to £2.3bn in 2013 from £1.7bn the previous year. The survey also highlighted that KPMG is currently leading the way with a consultancy fee income of £925m, followed by Deloitte’s £524m, PwC’s £438m and EY’s £416m.
US-based Booz & Co was reportedly involved in several high profile deals including, the merger of the national and American football leagues in the 1970s and the creation of Deutsche Telekom after the reunification of Germany, according to City Am.
The consultancy split from Booz Allen Hamilton, which focuses on US government consulting, in 2008. Booze Allen Hamilton became the subject of controversy recently, when former employee Edward Snowden leaked government secrets to the press.
The deadline for entries into the profession’s awards expires tomorrow, 29 July.
PKF UKI, which is made up of seven member firms in the UK and Ireland, today announced a total fee income of £128.9m for the year ending 31 May 2016
UHY Hacker Young, the national accountancy group, has named Chris Smith as a new partner in its London office
Curiosity killed the cat, but doesn't appear to afflict accounting watchdog the FRC, muses Colin