IBM to buy PwC Consulting for $3.5 billion

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Armonk, N.Y. and New York--IBM Corp. announced plans to buy PwC Consulting, the global business consulting and technology services unit of PricewaterhouseCoopers, for $3.5 billion, extending the computer giant's reach into the consulting business. The deal marks the first major acquisition by IBM since 1995, when it bought Lotus Development Corp. for $3.5 billion. IBM is looking for more market share in the technology consulting space, where margins are generally higher than in the hyper-competitive computer market.
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