PwC India Enhances Capabilities with ECS Acquisition
Pricewaterhousecoopers India (PwC India) has successfully acquired ECS, formerly known as Eicher Consultancy Services, as confirmed by an industry executive closely familiar with the transaction.
Acquisition Details
- Acquisition Price: Approximately ₹38-42 crore
- Seller: ECS (Eicher Consultancy Services), a Mumbai-based management consulting company
Strategic Expansion for PwC India
This acquisition marks another significant step in PwC India's strategy of expanding through targeted acquisitions. The firm had previously acquired the tax advisory practice of Ambit RSM in April 2007, renaming it Ambit, and earlier this year, added Mumbai-based Dalal & Shah to its audit network.
Rationale Behind the Acquisition
- Enhanced Operations and Client Base: Integrating ECS will enable PwC India to scale its business operations and broaden its client base.
- Talent Pool and Brand Leverage: The acquisition leverages ECS's established brand name and taps into its talent pool, enhancing PwC India's service capabilities.
ECS's Service Portfolio
- Provides consulting solutions to over 150 clients across:
- Banking
- Financial Services
- IT
- ITeS
- Services include business process re-engineering, growth strategy development, and cost & risk management.
PwC India's Service Spectrum
- Offers tax and advisory services across various sectors, including:
- Banking
- Insurance
- Real Estate
- Employs approximately 5,000 professionals in India, with plans to double its headcount over the next 3-4 years, as per recent reports.
Industry Insights
- A senior executive from a rival firm noted that PwC India might pursue further acquisitions, given its aggressive scouting for smaller players amidst attractive valuations.
- This move underscores PwC India's commitment to enhancing its market presence through strategic expansions.