IBM to Acquire PwC Consulting

eWeek reports that IBM is buying the business and technology consulting arm of PriceWaterhouseCoopers:

The deal, already approved by both companies’ boards, calls for IBM to pay $3.5 billion in cash and stock to PricewaterhouseCoopers for the global IT consulting unit.

PwC Consulting expects to achieve revenues in fiscal 2002 of $4.9 billion, according to officials. The combination will give IBM Global Services a strong position in business applications consulting and should help improve the financial picture of the division, which has seen slower growth in the past several quarters.

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