PWC Acquires Booz & Co.
Recently PWC has acquired Booz & Co with regulations and partner’s approval. Booz and Co involved with international consultancy business for several years. After joining of PWC it becomes a part of PWC network. The complete amalgamation rebranded with a new name called Strategy &. The name will be used along with the primary brand name PWC. Both the logos will be shown side by side as well. Additionally, the official website also rebranded with a new name – Strategy &.
According to business analysts, after this acquisition PWC becomes more powerful and a global consulting leader. According to PWC internal report – the annual revenue is $32 billion and the employee strength is 184,235 till 30th June 2013. On other side, Booz & Co. has nearly 3,000 staffs and 130 partners among them 15 are located in the United Kingdom.
According to PWC International chairman Dennis Nally: the deal is very important to our clients and stakeholders. He also added- PWC and Strategy & together are ready to deliver the maximum results. He also mentioned that both organizations collaboratively deliver the maximum benefits to its clients and stakeholders. Lastly, he added: the conglomeration is going to attract premium clients.
It is clear that the conglomeration between PWC and Strategy & immediately become a global leader to lead the business and change the global consulting arena. According to the “Accountancy age top 50 + 50”: data consulting dramatically increased its profitability (from £ 1.7 billion to £ 2.3 billion) in the last year.
According to “City Am”: the Booz & Co is a US based company who already successfully cracked several high profile deals like merger of national and American football leagues, Formation of Deutsche Telekom( after the reunion of Germany) and many others.
The previous body of Booz Allen Hamilton primarily involved with US government consulting. Later on, they divided and created a different identity. During 2008, Booz Allen Hamilton again comes into news and become a subject of controversy. The controversy takes place due to its format employee Edward Snowden who leaked the secret government information to the press.