Pricewaterhouse to buy consulting firm Booz

New York - Accounting giant PricewaterhouseCoopers said Wednesday it has reached a deal to buy business consultancy Booz & Company.

PwC did not reveal the financial terms of the deal, which will boost its advisory business.

Dennis Nally, chairman of PricewaterhouseCoopers International, said the acquisition would give chief executives "the opportunity to work with a global consulting team that could provide services from strategy development right through to execution."

PwC, headquartered in London, focuses on audit and assurance, tax and consulting services.

"This potential combination would not only deliver on this innovative value proposition but would also help reinvent management consulting for the next century," said Booz chief executive Cesare Mainard.

The Booz partner vote is set to take place in December. The transaction is subject to regulatory approvals.