PWC Denies IBM Partnership Rumor

Posted by accountingweb on Feb 2 2000 140 printer friendly

A rumor has surfaced that IBM will buy or form an alliance with the consulting arm of Big 5 giant PricewaterhouseCoopers, but according to PWC officials, the rumor is false.

The rumor began late last week when the New York Post reported that PWC was thinking about separating the accounting and consulting functions--and even considering possibly selling the consulting division.

An internal restructuring task force is, however, studying how to align the company for the future, especially in light of the bad press the firm has received recently from the Securities and Exchange Commission, which has negatively impacted the consulting divisions ability to attract clients.

A spokesperson for PWC has indicated that they have not ruled out any options for restructuring, but have determined that the status quo is not acceptable.

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