PracticeAccounting FirmsPwC purchases US consultants Diamond for $378m

PwC purchases US consultants Diamond for $378m

PwC's US firm purchases strategy and IT consultants Diamond

PwC’s US firm is set to buy
Diamond
Management & Technology Consultants
for $378m (£245m).

The strategy and IT consultancy firm will merge into PwC’s advisory practice.
PwC paid the equivalent of $12.50 a share for the firm, a 31% premium on its 23
August closing price.

The transaction, unanimously approved by both companies’ boards, is expected
to close in Q4 2010, subject to customary closing conditions, including the
approval of Diamond’s stockholders and antitrust clearance.

“There’s a clear strategic fit between PwC’s assets and aspirations and
Diamond’s positioning,” said Adam Gutstein, president and CEO of Diamond.

Further reading:

Big
Four make plans for growth in consulting

Related Articles

KPMG replaces PwC as Croda auditor

Accounting Firms KPMG replaces PwC as Croda auditor

2m Emma Smith, Managing Editor
FRC closes investigation into PwC over Barclays compliance

Accounting Firms FRC closes investigation into PwC over Barclays compliance

2m Alia Shoaib, Reporter
Top 50+50: Firms fall short on diversity

Accounting Firms Top 50+50: Firms fall short on diversity

2m Alia Shoaib, Reporter
PwC’s five strategic priorities for becoming ‘the leading professional services firm’

Accounting Firms PwC’s five strategic priorities for becoming ‘the leading professional services firm’

3m Emma Smith, Managing Editor
PwC publishes 12.8% BAME pay gap

Accounting Firms PwC publishes 12.8% BAME pay gap

3m Emma Smith, Managing Editor
PwC to audit BBC pay policies following gender pay gap outrage

Accounting Firms PwC to audit BBC pay policies following gender pay gap outrage

3m Alia Shoaib, Reporter
PwC to take over from Deloitte as Diploma auditor

Accounting Firms PwC to take over from Deloitte as Diploma auditor

3m Alia Shoaib, Reporter
Deloitte rises in auditor rankings with most FTSE 250 clients

Accounting Firms Deloitte rises in auditor rankings with most FTSE 250 clients

3m Alia Shoaib, Reporter