PwC to Acquire PRTM

NEW YORK, June 24, 2011 /PRNewswire/ -- PwC and PRTM, a global management consulting firm, today announced that they have entered into a definitive merger agreement whereby PwC will acquire PRTM.  Upon completion of the acquisition, PRTM will join the PwC global Advisory practice, which ranks among the world's largest providers of consulting services.

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"The PRTM team will provide our firm with significant capabilities in the areas of operational strategy, execution and business model innovation," said Dana Mcilwain, PwC Vice Chairman and U.S. Advisory Leader.  "We are especially pleased that the PRTM team of highly talented, globally-oriented professionals have chosen to continue their careers at PwC."

Scott Hefter, Global Managing Director of PRTM, said, "PRTM's strengths in operations management combined with PwC's extensive capabilities provide tremendous opportunities for both clients and staff alike.  The cultures of PRTM and PwC are closely aligned, while the capabilities we bring to market are complementary.  We look forward to working together to serve our clients around the world."

"This investment in high-quality talent is an important component of our continued strategic focus on quality across the firm.  We are fortunate to be able to commit to this enhancement of the Advisory practice at the same time we are investing significantly in the quality of our Assurance and Tax practices," commented Bob Moritz, U.S. Chairman and Senior Partner of PwC.

The transaction is expected to close later in the summer, subject to customary closing conditions.  Financial details of the transaction will not be disclosed.

About PRTM

Since 1976, PRTM has created a competitive advantage for its clients by changing the way companies operate. PRTM's management consultants work with senior executives to develop and implement innovative operational strategies that deliver breakthrough results. The firm is a leader in operational strategy, supply chain, product development, and customer value management. PRTM has 18 offices worldwide and serves major industry and global public sectors. For more information, visit www.prtm.com.

About PwC's Advisory Practice

PwC's Advisory professionals help organizations improve business performance, respond quickly and effectively to crisis, and extract value from transactions. We understand our clients' industries and unique business challenges, and look across the entire organization -- focusing on strategy, structure, people, process and technology -- to help clients build their next competitive advantage.  See  http://www.pwc.com/us/consulting for more information.

About the PwC Network

PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See www.pwc.com for more information.

© 2011 PwC. All rights reserved. "PwC" and "PwC US" refer to PricewaterhouseCoopers LLP, a Delaware limited liability partnership, which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.

SOURCE PwC