Hani Ashkar and Joe Saddi
PwC acquires Booz & Company
Dubai, April 3, 2014
Accounting giant PricewaterhouseCoopers (PwC) has announced the completion of its combination with Booz & Company, a global consulting firm.
With the granting of all regulatory approvals for Booz & Company to join PwC, it is now officially part of the PwC Network. All closing conditions for the deal have been met, a statement said.
Marking this occasion, Booz & Company has changed its name to Strategy& (pronounced Strategy and).
This new name, which will be used alongside the PwC name and brand, reflects the strength in strategy consulting that Booz & Company brings to the PwC Network and the benefits this deal will bring to all clients and stakeholders. After a short grace period, Booz & Company can’t legally continue to use the Booz name following the change in ownership.
Welcoming the Strategy& team to the PwC Network, Hani Ashkar, PwC Middle East senior partner, said: “By establishing Strategy& as part of the PwC network, we’re changing the consulting landscape for good. We’re offering our clients in the Middle East and across the world something they can’t get anywhere else: a combination of strategy consulting expertise and a proven track record of delivery that draws on unrivalled global scale and experience.”
“We are delighted to be joining PwC, the leading professional services network in the world, as it enables us to offer both our clients and our people a bigger, broader, and better opportunity to connect strategy to impact,” said Joe Saddi, SVP and managing director of Strategy& in the Middle East.
“Our clients need great strategy and the ability to execute it. Our combination with PwC enables us to offer our clients in the Middle East and across the globe the ability to develop and execute the right strategy—delivered by one trusted, experienced, and responsive consultant.”
PwC Strategy&’s Board of Directors will be chaired by Tony Poulter, a PwC partner and global consulting leader. Cesare Mainardi will be CEO of Strategy&. He has been the CEO of Booz & Company for the past two years. – TradeArabia News Service