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Summary:

PricewaterhouseCoopers wants to add Booz & Company consultants to its porfolio.

Shaking hands / deal / networking
photo: Shutterstock / shyshak roman

PricewaterhouseCoopers, one of the largest consulting companies on the planet, hopes to get bigger by acquiring Booz & Co., PwC said Wednesday morning.

Update: The larger of the two companies, PwC, remains one of the remaining big eight accounting firms and had revenue of about $32 billion for its fiscal year ending June 30, 2012. Booz has an estimated $1 billion in revenue. PWC fields an array of services including management consulting, accounting and tax services but also IT consulting. Booz offers enterprise strategy consulting as well as digital technology services.

Some 300 Booz partners will vote on the deal in December, and if they approve it , will join PwC’s $9 billion advisory business, according to the Financial Times.

Booz & Company was once part of what is now Booz Allen Hamilton, but spun out in 2008 and the two entities are no longer affiliated.

This deal is seen as a sign of consolidation in IT and general consulting businesses. This summer Accenture, another consulting giant, was reportedly interested in acquiring Booz & Co.  PwC has been rebuilding its IT consulting business since selling that arm to IBM for $3.5 billion in 2005.

Note: This story was updated at 7:56 a.m. PDT to reflect PwC’s emphasis on management consulting and to correct the spelling of PWC to PwC.

  1. Sorry, this is disappointing and inaccurate reporting. First off, It is PwC, not PWC. More substantially, PwC’s advisory offering, even without Booz & Co., covers strategy, operations, execution and not just IT consulting. They do some tech/IT consulting, but they’ve made a conscious decision not to be Accenture, IBM Global Services or Infosys. As such, they are trying explicitly trying *not* to recreate the business that they sold to IBM. May want to read the May 2013 Economist article on trends in the management consulting space for more perspective.

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    1. I fixed the PwC error… as for my emphasis on IT, that’s what our readers care about… are you saying they will not incorporate Booz’s IT practice in their own?? I did woefully forget to manage management consulting but stress that PwC has a wide range of services — will fix that oversight

      thanks for your note

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  2. I’ve never heard of the “big 8″ audit firms….Do you mean 4???? Some basic research would be helpful to get it right.

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    1. I”m showing my age. the big 4 evolved from what was the Big 8 for many many years

      http://en.wikipedia.org/wiki/Big_Four_(audit_firms)#Big_8

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