PwC completed of its acquisition of Booz & Company. With the granting of all regulatory approvals for Booz & Company to join PwC, it is now officially part of the PwC Network. All closing conditions for the deal have been met.

Booz & Company can't legally continue to use the Booz name following the change in ownership. As a result, Booz & Company has changed its name to Strategy& (pronounced Strategy and). The new name, which will be used alongside the PwC name and brand, reflects the strength in strategy consulting that Booz & Company brings to the PwC Network and the benefits this deal will bring to all clients and stakeholders, says Dennis Nally, Chairman of PricewaterhouseCoopers International.

"Today signifies an important step for PwC, our clients and stakeholders. Businesses are navigating unprecedented, disruptive threats and organizations increasingly want the right strategy and the ability to execute it," Nally says. "Together PwC and Strategy& meet this need—delivering superior value to our clients and stakeholders, attracting premium talent and helping businesses around the world build their capabilities on a global scale. This combination of PwC and Strategy& will see PwC lead the way in changing the landscape of the global consulting business."

Meanwhile, Cesare R. Mainardi, who has been Booz & Company's CEO for two years, is now CEO of the newly named Strategy&.

"We are delighted to be joining PwC, the leading professional services network in the world, as it enables us to offer both our clients and our people a bigger, broader, and better opportunity to connect strategy to impact," Mainardi says. "Strategy& brings a 100-year heritage of practical strategy advice to PwC's broad and deep portfolio of expert advisory services."

PwC Strategy&'s Board of Directors will be chaired by Tony Poulter, a PwC partner and global consulting leader.

NOT FOR REPRINT

© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.