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PwC to acquire Diamond

 
#1 PwC to acquire Diamond
24/08/2010 12:04

Tony Restell (Top-Consultant.com)

Reuters are reporting that PwC is to buy Diamond Management & Technology Consultants for $378m (<a href=http://bit.ly/aW9zu8 target=_blank>link</a>). What do you make of the deal, will it have much of an impact in helping PwC to triple the size of its consulting business as I seem to recall is its stated aim. Do those of you at PwC see this as a good step or a distraction?

Interested to hear your thoughts.

Tony Restell

Top-Consultant.com

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#2 RE: PwC to acquire Diamond
24/08/2010 19:52

Anon to Tony Restell (Top-Consultant.com) (#1)

It appears that this is a deal which was mainly driven by the US partners at PwC. The UK arm will only inherit 45 new members of staff - so hardly transformational or a great leap.

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#3 RE: PwC to acquire Diamond
24/08/2010 23:15

PwC person to deleted (#0)

As mentioned, it's primarily a US deal although a few UK people are becoming partners. Not transformational but another bolt-on and some good client relationships.

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#4 RE: PwC to acquire Diamond
25/08/2010 08:23

dcon to Tony Restell (Top-Consultant.com) (#1)

As others have said, it's a bigger deal for the US than the UK since the US consulting practice wasn't as far along the path to re-establishing itself. The UK seems to have taken a more organic approach, starting a couple of years ago.

This transaction may at least put the size of the consulting businesses in the two countries on a more level footing, although I expect there will be integration issues - couple a geographical split with a difference in legacy organisations and there will be significant barriers to people working cohesively, especially across the Atlantic. There are enough regional disconnections and inter-group rivalries within PwC already, so I expect the businesses will be blaming "cultural differences" for some years. If I was a multinational client, I would hesitate to see this as a panacea for the international client service problems that both Diamond and PwC have run into.

I'm sure the experience for existing clients will be handled professionally, and as smoothly as possible in the circumstances. Diamond's future has been in question for some time, so it may help assuage the concerns of clients on long-term transformation contracts that a large, reputable, business has acquired Diamond rather than it being broken up or folded. Overall though, I see this as a "sum of parts" deal rather than something that's going to generate a lot of additional value for clients.

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#5 RE: PwC to acquire Diamond
25/08/2010 09:35

billum to dcon (#4)

Diamond was on the market for a long, long time - it was carrying a poison burden of disputes & actual/potential lawsuits in the US which made it distinctly unappetizing; anyone know how PWC have got round this?

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