PwC has completed the acquisition of Booz & Co, a consultancy firm, following the granting of all regulatory approvals required.
A preliminary agreement was originally announced in October 2013, and was approved by the partners of Booz & Co at the start of January 2014.
As part of the acquisition, Booz& Company will change its name to Strategy&, as the change of ownership means it can no longer use the Booz name after a 90 day grace period due to an agreement made with Booz Allen Hamilton in 2008, when the Booz&Co was spun into its own company.
PwC said the new name will be used alongside the PwC name and brand, and "reflects the strength in strategy consulting that Booz & Company brings to the PwC Network."
Cesare Mainardi, chief executive officer of Booze & Co for the past two years, will continue on as chief executive officer of Strategy&.
Booze&Co had 3,000 staff in 57 offices around the world. In 2012, the company reported about $1.4bn in revenues.
In the 2014 IAB World Survey, PwC's total revenue was just over $300m behind Deloitte's, meaning the acquisition may be enough to lift PwC above its Big Four rival, depending on organic growth and other acquisitions.
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