IBM closes PwC Consulting deal
IBM has finally closed its $3.5bn (£2.23bn) acquisition of PriceWaterhouseCoopers Consulting, to become the world's largest consulting services organisation.
The deal has resulted in a new global business unit, IBM Business Consulting Services, which comprises more than 30,000 IBM and 30,000 transferring PwC consulting staff. The division becomes the world’s largest consulting services organisation.
Although IBM expects to have to make some redundancies from the acquisition it still means that IBM services arm will be larger than its computer hardware division.
The deal has received all regulatory clearances in the US and European Union. The $3.5bn will be paid to PwC in cash and stock.