IBM has acquired PwC Consulting, the global management consulting and technology services unit of PricewaterhouseCoopers. The deal was overwhelmingly approved by PricewaterhouseCoopers member firms and partners globally, and has received all regulatory clearances, including in the United States and the European Union. Under terms of the transaction, IBM has paid PricewaterhouseCoopers approximately $3.5 billion in cash and stock.
The combination creates a new global business unit, IBM Business Consulting Services, comprising more than 30,000 IBM and 30,000 transferring PwC Consulting professionals. As a result, IBM Business Consulting Services becomes the world's largest consulting services organization, with operations in more than 160 countries. IBM Business Consulting Services will be part of IBM Global Services.
"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," said Ginni Rometty, general manager, IBM Business Consulting Services.
Following the July 30 definitive agreement, IBM and PwC Consulting assembled a transition team of more than 600 professionals to plan for and manage all aspects of the expected integration of more than 60,000 client service professionals and staff. As part of this process, Business Consulting Services has determined that it will adopt IBM's sector and industry segmentation and PwC Consulting's key solution areas, facilitating rapid and seamless integration.
Concurrently, IBM has named three geographic leaders for the new Business Consulting Services organization: Mike Collins, general manager, Business Consulting Services-Americas; David Dockray, general manager, Business Consulting Services-Europe, Middle-East and Africa; and Hideki Kurashige, general manager, Business Consulting Services-Asia Pacific. Collins and Dockray were previously theatre-managing partners of PwC Consulting. Kurashige was previously CEO of PwC Consulting in Japan. All three leaders will report directly to Rometty.
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