PwC has completed its acquisition of Booz & Company, as the accounting powerhouse looks to strengthen its consulting arm.

PwC has completed its acquisition of Booz & Company, as the accounting powerhouse looks to strengthen its consulting arm.

The deal - announced at the end of last year - brings together two of the largest professional services firms in the world. As part of the integration, Booz & Company will change its name to Strategy& (pronounced Strategy and). PwC's consulting business brings in nearly a third of its revenue and is growing faster than its core auditing business.

“Today signifies an important step for PwC, our clients and stakeholders,” said Dennis Nally, chairman of PricewaterhouseCoopers International.

Partners at Booz approved the deal in December and "a significant majority" of the partners have formally joined PwC, Nally said. The deal has received all necessary regulatory approvals. Financial terms weren't disclosed.

Booz will add to PwC's $9.2 billion in global consulting revenue in 2013, which was 28.5 per cent of its $32.1 billion in total global revenue. PwC's consulting revenue rose 7.6 per cent at constant exchange rates in 2013 over the previous year, compared with only 1.4 per cent for audit revenues.

PwC has over 184,000 employees worldwide and is one of the largest international accounting firms, while Booz has around 3,000 employees according to the latter company’s website.  Booz & Co is a firm whose origins date back to the start of the First World War in 1914.