PwC US Completes Acquisition of Minnesota Privacy Consultants
Further strengthens and expands PwC's Data Protection and Privacy practice at a time of high profile cyber threats and data privacy breaches
NEW YORK, March 3, 2014
NEW YORK, March 3, 2014 /PRNewswire/ -- PwC US today announced that it has acquired the assets of Minnesota Privacy Consultants (MPC), including the Company's privacy professionals and network. MPC helps multinational corporations, government agencies, universities and nonprofits find their sensitive data, classify it, control it and systematically retire it. Founded in 2006, MPC specializes in privacy compliance, including healthcare and cloud computing.
With the closing of the deal, MPC's founder and president, Jay Cline, his entire complement of data protection and privacy professionals, as well as the tools and methodologies of the Company's Twin Cities Privacy Network, will become part of PwC's Risk Assurance practice.
"At a time when well-publicized cyber security threats and data privacy breaches have underscored the critical nature of these issues to both businesses and consumers, the addition of MPC will further strengthen and expand PwC's Data Protection and Privacy resources," said Dean Simone, leader of PwC's US Risk Assurance practice. Simone also noted that those threats and breaches have spurred rapid regulatory focus and growing demand for risk assessment and assurance services.
"Working together with MPC's team of seasoned professionals and our talented staff within our Risk Assurance practice, we will leverage the Company's solutions to drive further inroads in key risk arenas, such as IT and Project Assurance and Performance Governance Risk and Compliance," Simone added. "MPC's highly relevant experience and tools will enable us to pursue greater opportunities for our combined businesses, while delivering even higher quality service to our clients."
The acquisition of MPC brings to PwC a team of experienced risk assessment consultants specializing in difficult areas of privacy compliance including healthcare, cloud computing and European-privacy protection compliance. MPC has built a strong track record of helping multinational corporations, government agencies, universities, and nonprofits identify, classify and control their sensitive data. The acquisition also includes the methodology and benchmarking tools of Twin Cities Privacy Network, a large regional network of privacy professionals. The group is comprised of corporate leaders and practitioners from legal, compliance, audit, IT, information security, and other departments charged with the task of protecting their organizations' personally identifiable information.
"Since our founding eight years ago, we've gradually grown our practice and network by delivering high-quality risk assessments, tools and policies across a blue-chip base of clients," said Cline who joined PwC as a principal in the transaction. Mr. Cline will help lead PwC's national Data Protection and Privacy practice by building out its service offerings to address the next generation of privacy risks, and by recruiting and developing a deep bench of talent in the privacy arena.
"Our vision is to build an infrastructure of trust for our clients," Cline added. "I look forward to working with my new PwC teammates to pursue these extraordinary opportunities."
Financial terms of the transaction will not be disclosed.
About PwC's Risk Assurance Practice
PwC understands that significant risk is rarely confined to discrete areas within an organization. Rather, most significant risks have a wide-ranging impact across the organization. As a result, PwC's Risk Assurance practice has developed a holistic approach to risk that protects business, facilitates strategic decision making and enhances efficiency. This approach is complemented by the extensive risk and controls technical knowledge and sector-specific experience of its Risk Assurance professionals. The end result is a risk solution tailored to meet the unique needs of clients.
About PwC US PwC US helps organizations and individuals create the value they're looking for. We're a member of the PwC network of firms in 157 countries with more than 184,000 people. We're committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.com/US. Gain customized access to our insights by downloading our thought leadership app: PwC's 365™ Advancing business thinking every day