NEWS: PwC Acquires Mokum

header_logo_2011PwC (Price Waterhouse Coopers), one of the big 4 auditors have announced the acquisition of Mokum, a European consultancy firm who specialise in Oracle software application implementations and relating managed services.

PwC said the deal, would meet the increasing demand from clients for technology expertise. Mokum, which boasts annual revenue of £16m, is part of a strategy to embed technology into its services.

The deal will mean around 145 Mokum staff in London and 15 at an office in Manchester’s Spinningfields will join PwC, including two as partners.

The deal was signed last Thursday and is expected to be finalised by March, subject to regulatory and independence compliance.

Neil McTiffin, PwC’s head of consulting for in the North West, said: “From banking to retail, many of our clients are facing major challenges which require them to transform how they do business, and technology is key to this.  The acquisition of Mokum is central to us helping companies with this journey.

“The deal complements our current Oracle capability which, combined, will comprise one of the largest Oracle technology practices in Europe.  Mokum has a strong market position and brand which will allow us to continue to build our market share and considerably grow our revenues in this highly competitive space.”

Farooq Raja, Mokum’s managing director said: “For seventeen years, the Mokum ideal has been to strive towards bigger, better, more exciting opportunities in order to deliver business benefit for our clients and to enable our people to fulfil their full potential. It is that aim – to continue to grow whilst striving to be the best – that has driven our decision to join forces with PwC.”

Financial details of the deal were not disclosed.