PricewaterhouseCoopers is a large international accounting and business consulting partnership, a member of the Big Four auditors. It was formed in 1998 through the merger of Price Waterhouse and Coopers & Lybrand.
Though the firm's core business is accounting, it also ran a huge professional consulting branch. In October 2002 PricewaterhouseCoopers sold PwC Consulting, its professional consulting arm, to IBM for approximately $3.5 billion in cash and stock. In August 2003, IBM revealed that the actually value of the deal was closer to $3.9 billion.