According to Wall Street Journal, PricewaterhouseCoopers, the New York consulting firm, is in discussions to buy Diamond Management & Technology Consultants for around $50M partly in reaction to Aon's deal to buy Hewitt Associates for around $4.9 Billion.
Consulting firm Deloitte of New York is also looking for buys. Accordingly, there should be more consolidation in the consulting industry, with companies looking for buys that give them a global presence, diversify them and more products and services to sell.
The WSJ report noted that Accenture and Towers Watson &Co, along with Deloitte and PWC should get more aggressive in buying smaller consulting firms. Hay Group remains as an attractive potential target. PricewaterhouseCoopers Chairman Robert Mortiz said the company is looking at a number of buys and it wants bigger, transformational deals and niche buys.