Monitor Reaches Agreement To Join Forces With Deloitte
CAMBRIDGE, Mass., Nov. 7, 2012 /PRNewswire/ -- Monitor Company Group Limited Partnership, one of the world's most prestigious strategy consulting firms, today announced that it has agreed to join forces with Deloitte, one of the world's largest professional services providers. The transaction is subject to certain conditions and Monitor expects it to close as soon as practicable following their satisfactory completion.
Under the asset purchase agreement with Monitor, Deloitte Consulting LLP will acquire Monitor's U.S. practice, and practices outside the U.S. will be acquired by certain other member firms of Deloitte Touche Tohmatsu Limited. Upon closing of the transaction, Monitor's and Deloitte's Strategy consulting practices will combine to forge a new and preeminent global presence in the industry, bolstered by Deloitte's leadership and reputation globally. The complementary strengths of the two organizations will be manifest from the outset, creating:
- A confirmed leader in strategy consultancy
- One of the largest life sciences strategy practices
- One of the largest marketing strategy practices
- A broad-reaching innovation strategy and execution practice
Bansi Nagji, President of Monitor, states: "Monitor has built a unique brand in the field of strategy consulting over 30 years, renowned for highly customized client solutions and world class intellectual property and thought leadership. Our talent base – from partners to employees – is of the highest quality, working collaboratively across borders to serve our outstanding network of global clients. The opportunity to marry these qualities with the extraordinary strengths of Deloitte, and to invest together to serve our clients' rapidly evolving needs, is hugely motivating."
Michael Canning, national managing director of Deloitte Consulting LLP's Strategy & Operations practice, adds, "We have long admired Monitor for its excellence in strategy consulting and we are excited about the fit and compatibility of our practices. Deloitte and Monitor leadership will work closely together to capture the best of both organizations and enhance our capabilities as world-class global strategy practices that provide clients with exceptional value. The combination of practices with Monitor's will further accelerate Deloitte's growth in the strategy space and what we develop together will reshape our industry. I look forward to working closely with my new colleagues from Monitor as we bring that vision to life."This transaction combines Monitor's well-regarded brand, strong thought leadership and top-notch talent with Deloitte's extraordinary reach, access, and resources. Monitor complements Deloitte with global expertise in customer and market strategy, corporate and business unit strategy and innovation, and a particular focus on life sciences and consumer products.
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