PwC to buy Diamond Management & Technology for $378 million
24 Aug 2010
PricewaterhouseCoopers (PwC), the $26-billion and the world's largest auditing firm, today said that it would buy Diamond Management & Technology Consultants Inc (DMTC) for $378 million in cash.
DMTC provides strategic management consulting services to help companies grow, improve margins, and increase the productivity of their investments.
Diamond's consultants are experienced in helping clients attract and retain customers, increase the value of their information, and plan and execute projects that turn strategy into measurable results.
Chicago, Illinois-based DMTC employs more than 500 consultants worldwide and has offices in Chicago, Hartford, New York, Washington DC, London, and Mumbai.
New York-based PwC will pay $12.50 per share in cash, representing a premium of 31 per cent to Diamond's closing stock price of $9.54 on 23 August 2010, valuing DMTC at $378 million.
''We are pleased to bring to PwC a group of highly talented professionals with a proven track record of consistently delivering world class service.
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