MC Industry Consolidation - any recent news/rumours on acquisitions?
PwC got Booz. Deloitte got Monitor. Likely to see ACN, KPMG, EY try something similar soon.
ACN to build a broader firm + they're cash rich/have a hug boner for inorganic growth.
KPMG/EY because if you look at Big4 revenue, most of the double-digit growth is coming from consulting/advisory work (see Beatoncapital article) and their traditional streams are quite flat (still healthy, but not growing). If I remember correctly, not only is MC work growing faster, it is also bringing in more money (compared to other streams) - so naturally they will move in this direction - especially so after PwC and Deloitte.
So have you heard anything recently? Rumours? Any actual news/announcements? What's your speculation?
The two rumors I hear are:
1) KPMG/ATK - I think this has the most validity, and wouldn't shock me. ATK is in very similar shape Booz was...they're trying to grow organically, but the market place is pretty saturated.
2) Accenture/Bain - I don't think this has much credence, although if there's an economic downturn I wonder what happens to Bain, especially being so heavy in PE DD (same story with LEK) and lacking size to get into more executional work.
If ACN/Bain happens, eff me for leaving ACN. haha
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