Armanino expands Dynamics biz
Details: Armanino Consulting, the tech consulting arm of Armanino McKenna LLC, has effectively expanded its West Coast presence and Dynamics reseller business through the purchase of San Jose-based 1 Source Solutions. (For more, see VAR Briefs, page 20.)
Twin Cities firms announce merger
Details: CPA and business advisory firms Abdo, Eick & Meyers LLP and Jelinek Metz McDonald Ltd. have announced that they will merge, effective November 1. The union will result in a combined firm of 70 professionals and over 100 staff with offices in Mankato, Edina and Apple Valley, elevating it to among the 25 largest firms in Minnesota.
Financial terms were not disclosed.
Going forward, the combined firm will do business under the Abdo, Eick & Meyers name. AEM managing partner Steve McDonald will serve as MP for the combined entity.
PwC to acquire Diamond for $378M
Details: PricewaterhouseCoopers plans to acquire Diamond Management & Technology Consultants for $378 million, acquiring all of the outstanding common shares for $12.50 per share in cash, a premium of 31 percent when the deal was announced. Diamond employs more than 500 consultants and has offices in Chicago; Hartford, Conn.; New York; Washington, D.C.; London; and Mumbai. The transaction has been approved by both companies' boards, and is expected to close in the fourth quarter.
PwC sold its tech consulting practice to IBM in 2002 for $3.5 billion at a time when many large accounting firms were spinning off or selling their consulting units, but it has been steadily rebuilding its technology and management consulting services in recent years. The firm acquired BearingPoint's North American Commercial Services Business last year for $44 million (BearingPoint was formerly KPMG's consulting unit), and has also acquired smaller consultancies recently.
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