PWC - Simplified - Introduction, Mergers, Acquisitions, Services Offered and Revenue.

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Introduction

PWC is the second-largest professional services network in the world and is considered one of the “Big Four” professional services firms, alongside Deloitte, Ernst & Young, and KPMG.

PwC, also known as PricewaterhouseCoopers, offers clients various professional business services.  New York-headquartered professional services firm PwC LLP is the U.S. member firm of PricewaterhouseCoopers International Limited, whose network of firms operates in 157 countries, employ more than 295,000 people, and serves 84 percent of Fortune Global 500 companies and more than 100,000 entrepreneurial and private businesses.


History

Coopers & Lybrand

  • In 1854, William Cooper founded an accountancy practice in London, England. It became Cooper Brothers seven years later when his three brothers joined.
  • In 1898, Robert H. Montgomery, William M. Lybrand, Adam A. Ross Jr, and T. Edward Ross formed Lybrand, Ross Brothers, and Montgomery in the United States.
  • in 1980, Coopers & Lybrand expanded its expertise by acquiring Cork Gully, a leading firm in that field in the UK.
  • In 1990, in certain countries, including the UK, Coopers & Lybrand merged with Deloitte, Haskins & Sells to become Coopers & Lybrand Deloitte.
  • in 1992 they reverted to Coopers & Lybrand.


Price Waterhouse

  • In 1849, Samuel Lowell Price, an accountant, founded an accountancy practice in London, England.
  • In 1865, Price went into partnership with William Hopkins Holyland and Edwin Waterhouse.
  • Holyland left shortly afterward to work alone in accountancy and the firm was known from 1874 as Price, Waterhouse & Co.


PricewaterhouseCoopers

In 1998, Price Waterhouse and Coopers & Lybrand merged to form PricewaterhouseCoopers

Mergers and acquisition

  1. In 2000, PwC acquired Canada's largest SAP consulting partner, Omnilogic Systems.
  2. In October 2002, PwC sold the entire consultancy business to IBM for approximately $3.5 billion in cash and stock. PwC's consultancy business was absorbed into IBM Global Business Services, increasing the size and capabilities of IBM's growing consulting practice.
  3. PwC began rebuilding its consulting practice with acquisitions of Paragon Consulting Group.
  4. The firm acquired Diamond Management & Technology Consultants in November 2010.
  5. In 2012, the firm acquired Logan Tod & Co, a digital analytics and optimization consultancy.
  6. In 2014, the firm acquired Booz & Company, including the company's name and its 300 partners.
  7. In 2013, the firm acquired BGT Partners, a 17-year-old digital consultancy.
  8. In 2016, PwC and InvestCloud, LLC, the world's largest Digital App Platform announced that they entered into a non-exclusive joint business relationship, designed to accelerate the adoption and implementation of the InvestCloud Digital App Platform. PwC will be a preferred implementation and strategic partner of InvestCloud focused on enterprise delivery and innovative development of new financial app capabilities.
  9. In 2016, PwC acquired technology/consulting firm NSI DMCC, Salesforce's largest implementation partner in the Middle East.
  10. In 2017 PwC PwC also acquired the tax technologies of the GE tax department.
  11. In 2017, PwC accepted bitcoin as payment for advisory services, the first time the company, or any of the Big Four accounting firms, accepted virtual currency as payment.
  12. Veritas Capital acquired PwC's US public sector business in 2018
  13. In February 2020, PwC announced a new collaboration with technology firm ThoughtRiver to launch AI-driven LawTech products aimed at standardizing PwC's service to UK law clients.

 Services Offered By PWC



  1. Cyber Security
  2. Digital Services
  3. Transformation
  4. Environment, Social & Governance
  5. Financial Risk and Regulations (FRR)
  6. Forensic Services
  7. Government and Public Sector
  8. Licensing Management and Contract Compliance
  9. Strategy Consulting
  10. Technology Consulting
  11. Management Consulting

Revenue



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