Oct, 2002 : IBM Completes PwC Consulting Acquisition
📅 - IBM (IBM.com) announced on Tuesday that it has completed its acquisition of the global management consulting and technology services unit of PricewaterhouseCoopers.
The deal was approved, says IBM, by PwC member firms and partners, and has received all regulatory clearances, both in the US and the European Union. Under the terms of the agreement, IBM has paid PricewaterhouseCoopers approximately $3.5 billion in cash and stock.
According to IBM, the deal creates a new global business unit, IBM Business Consulting Services, comprised of more than 30,000 IBM and 30,000 former PwC Consulting professionals. IBM Business Consulting Services, which will be part of IBM Global Services, becomes the largest consulting services organization in the world, with operations in more than 160 countries.
"This union creates a new category in the consulting field. We've combined two organizations with complementary skills and cultures, and which share a vision of fusing business insight and technology in a way that can significantly benefit a client's bottom line," says Ginni Rometty, general manager, IBM Business Consulting Services. "Together, we can offer the world's most complete range of consulting services. Combine that with the full range of IBM services, infrastructure, technology and financing resources, and you have the integrated business technology solutions that many of our clients are now demanding."
The deal was approved, says IBM, by PwC member firms and partners, and has received all regulatory clearances, both in the US and the European Union. Under the terms of the agreement, IBM has paid PricewaterhouseCoopers approximately $3.5 billion in cash and stock.
According to IBM, the deal creates a new global business unit, IBM Business Consulting Services, comprised of more than 30,000 IBM and 30,000 former PwC Consulting professionals. IBM Business Consulting Services, which will be part of IBM Global Services, becomes the largest consulting services organization in the world, with operations in more than 160 countries.
"This union creates a new category in the consulting field. We've combined two organizations with complementary skills and cultures, and which share a vision of fusing business insight and technology in a way that can significantly benefit a client's bottom line," says Ginni Rometty, general manager, IBM Business Consulting Services. "Together, we can offer the world's most complete range of consulting services. Combine that with the full range of IBM services, infrastructure, technology and financing resources, and you have the integrated business technology solutions that many of our clients are now demanding."
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