http://dealbook.nytimes.com/2013/10/30/pricewaterhousecoopers-to-buy-booz-consulting-firm/?_r=0
Thoughts? Interesting to me is the estimate of Booz & Co revenues at approximately $1B, didn’t really have a handle on the size before.
What type of revenues do MBB do?
If you’re a Booz analyst/associate, what’s your take on the impact to your prospects/resume/prestige?
Shame on you for using a Big 4 ACCOUNTING FIRM, a SHITTY IT CONSULTING FIRM, and the word ‘prestige’ in the same post.
If anyone here is a Booz or Big 4 employee, do us all a favor and hack the sack! Now! You beancounters and PowerPoint jockeys are a waste of space and an insult to the human species!!!
Now, back to creating real tangible value in my M’n’A’in on the Buyside Job on the >50th Floor at a BB out in Manhattan, NY.
I thought Booz and Booz Allen Hamilton were all still the same company. Shows either a) how much attention I pay or b) how unimportant Booz is in the consulting area. Not really sure why pwc would buy them, I don’t think either company really has a place in top tier consulting. pwc does more operations and implementation consulting and their consulting revenue is already multiple times Booz. Seems like a waste of money from pwc’s part.
I think if I worked for Booz I’d already probably want a new workplace and pwc has a good reputation, so I won’t see it as a downside.
Past revenues don’t always show the synergistic potential in mergers like this. PWC must get a lot of clients who could use consulting services, such as those provided by Booz. However, since PWC cannot provide these services, the clients must talk to a different firm. It’s a good business model to be able to sell all kinds of services to a client who is already in the room.
I think Booz very often tries to group itself with McKinsey, Bain and BCG to become part of the “Big 4.” Meh.
Seems like a good fit for PwC; they just rolled up Diamond Technology Consultants a couple years ago and are probably looking to acquire a bunch of these consulting firms since the consulting industry has been fairly sluggish in the last couple years. It’s probably a good idea since there are way more consulting firms than the market needs, in my opinion.
So much for SOX. Guess Audit and Consulting are getting married once again…
Ah the irony…back in the “Post-Enron” era all the accounting firms (except Deloitte) were throwing their consulting units out of bed amidsts the “conflict of interest” clamor. I guess a new “paradigm” is emerging lol…just goes to sho…w that if you don’t like “todays axiom” just wait awhile the “truth” will swing back to you!
Totally agree - curiously, I’ve never met a Booz consultant who didn’t think they were totally awesome. They keep trying to be McKinsey, Bain or BCG but they just don’t get much strategy work. So, what that basically means is that they want to be M/B/B/ B , but they just ain’t.
PWC is a very distant #2 to Deloitte in consulting revenue. This will help separate them from E&Y and KPMG.
MBB or any strategy consulting firm are also PowerPoint jockeys … What do you expect?
I would expect Booz to be PowerPoint jockeys too but turns out they’re probably still using Lotus Notes.
pupupupupupu
Then they’ll fit in well with pwc because they still use lotus notes, though for email. Now that I use Outlook 2010 I feel so technologically advanced.
PwC is a distant #2 for one reason…they sold of their consulting unit to IBM under duress post Enron.
Hmm…synergistic fit judgments based on laptop tools currently used. See we have some big picture thinkers here lol.
How do you know MBB don’t use Lotus Notes? =))
^ Haha, maybe they do, but I have templates from each of MBB and they look like PPT instead of Lotus Notes to me. I was sort of joking there anyway, I don’t even know what a Lotus Notes presentation looks like but ask someone at Booz and they will probably have some idea.
Sorry, no idea why I’m bringing the hate for Booz today. Must be a weekday?