A Reuters report said UK accounting firm PricewaterhouseCoopers (PwC) entered into an agreement to purchase a corporate consulting firm. The move to acquire Booz & Co was for PwC to bulk up its business in advisory and tax business services. Financial and other pertinent details of the agreement were not disclosed.
In a joint statement, the companies said the agreement would be subject to the approval of the partner vote of Booz & Co. The partner vote would be held in December.
Booz & Co is a spin-off of Booz Allen Hamilton. Booz Allen Hamilton is a consulting company which is known for having clients in the US government. Booz & Co separated from Booz Allen Hamilton in 2008 and had been existing as a firm independent of the latter.
PwC is one of the top four accounting firms in the world. The other three are KPMG, Ernst & Young and Deloitte.
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