IBM closes PwC Consulting acquisition

IBM and PricewaterhouseCoopers have announced that the deal which would see PwC's Consulting division merged with IBM Global Services Unit has now been completed.

This follows overwhelming approval from PwC member firm and partners and the appropriate regulatory bodies.

The new entity will now be known as IBM Consulting Services and would employ over 60,000 consulting professionals, including 30,000 from the former PwC Consulting and would offer services across 160 countries, making it the world's largest consulting services organisation.

IBM paid $3.5bn (€3.54bn) for the consulting business in July, the highest price it had ever paid for any acquisition.

The deal, a cash and stock deal, came as PwC was facing increased pressure as a result of its involvement with recent accounting scandals.

"This union creates a new category in the consulting field. We've combined two organisations 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.

"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."