PricewaterhouseCoopers said yesterday it has acquired a 50% stake in Evisor, a web design organization based in Belgium that specializes in the development and implementation of web sites and web-enabled business applications. PricewaterhouseCoopers said it will combine its consultancy skills with Evisor’s technical expertise to provide customized, scaleable and reliable e-business solutions; specifically in the areas of IT architecture, programming, graphic design and web marketing.
The move is the latest in a series of investments by the management consulting firm to enhance its ability to deliver total e-business solutions to global companies. PricewaterhouseCoopers says it’s looking to boost its e-business capabilities by making strategic investments in specific regions and countries around the world. This deal will enhance the organization’s services in Europe, it said, where a recent survey pointed out that only 11% of the region’s largest organizations have fully implemented e-business solutions.
The deal calls for Evisor to receive roughly $10m over the next three years. The Leuven-based company says it expects half of its business to come through PricewaterhouseCoopers over the next year. Evisor will use the money to hire consultants to take it from 33 staff to 200 by 2002, when an initial public offering is slated. Evisor recorded revenue this year of about 70m Belgian Francs ($1.7m) but expects that to double in each of the next two years. Evisor’s board will be composed of representatives from both firms, although the two Evisor founders will run daily operations.
