This lede from the South Florida Business Journal says it all:
The growing array of services provided by major accounting firms is being highlighted by PWC's acquisition of BGT Partners, one of South Florida's top interactive marketing companies.
I mean, why wouldn't an accounting firm want an interactive marketing company? It has a nice buzz, doesn't it? Here's how Joe Duffy, PwC's Advisory Strategy and Consulting Leader, explained it in the SFBJ article:
[H]e liked how BGT effectively competed against agencies that were 20 times its size. PWC's reputation should carry weight in its effort to grow further.PWC needed a stronger capability in digital strategy, analytics and user strategy, which BGT has, Duffy said.When asked whether PWC making an interactive digital acquisition in South Florida, instead of New York or Los Angeles, might raise eyebrows, Duffy said, "We're a virtual business. What was more important was the equality of asset, quality of the management team and impact of the work they have done."
If you strip away all the buzziness, isn't what PwC really purchased a boutique advertising agency? If so, fine, whatever. If I'm way off, then fine, whatever.
But if they start buying up McDonald's franchises, then this industry will have really jumped the shark.
PWC strikes deal to buy BGT Partners [SFBJ]
