Diamond Management & Technology Consultants

Diamond Management & Technology Consultants was an independent management and technology consulting firm founded in Chicago in 1994 as Diamond Technology Partners by Mel Bergstein and Chris Moffitt. The firm advised organizations on business strategy, technology, transformation, and sector-specific operating challenges. Its client and industry work covered consumer packaged goods, financial services, health care, and other sectors. Diamond developed as a relatively small specialist consultancy compared with larger competitors such as Accenture, Deloitte Consulting, and Mercer Management Consulting. Its identity combined management advice with a strong interest in technology, innovation, and the practical application of emerging digital and organizational ideas. The company also cultivated relationships with notable technology and business thinkers, including Alan Kay, who served on its board, and contributors associated with the firm's Diamond Exchange conference. The business changed corporate identity several times. After becoming publicly traded in early 1998, Diamond Technology Partners merged with the European consulting firm Cluster Consulting. On November 28, 2000, the combined company adopted the name DiamondCluster International, Inc. In 2006, following the divestiture of parts of its international operations, it changed its name again to Diamond Management & Technology Consultants, Inc. Beyond client consulting, Diamond supported an intellectual and publishing platform. From 1998 through 2003, it published Context Magazine, whose inaugural issue included an interview with Microsoft co-founder Bill Gates. The firm also operated the Diamond Exchange industry conference, which drew participation from technology and innovation figures and served as a forum for discussion of business, technology, and future-oriented management topics. PwC agreed to acquire Diamond in 2010. The transaction was announced at a cash price of $12.50 per share, and the acquisition was completed on November 3, 2010. Following the deal, Diamond was renamed Diamond Advisory Services and incorporated into PwC's Advisory Services business. Consequently, Diamond Management & Technology Consultants no longer operates as an independent company or standalone brand.

Diamond Management & Technology Consultants originated in Chicago in 1994 as Diamond Technology Partners. Mel Bergstein and Chris Moffitt founded the firm with financial backing from its founding partners and Safeguard Scientifics. From the outset, Diamond operated as a management consultancy with a technology-centered orientation, serving organizations that needed advice on strategy, business change, and the use of technology. Its work extended across industries, including consumer packaged goods, financial services, and health care. The firm became a public company in early 1998. During this period it also developed activities beyond conventional client engagements. Between 1998 and 2003, it published Context Magazine, an industry publication focused on business and technology issues. The first issue featured an interview with Microsoft founder Bill Gates. Diamond additionally organized the Diamond Exchange, a privately branded industry conference that brought together technology pioneers, business thinkers, and practitioners. People associated with this network included Alan Kay, who served on Diamond's board, as well as John Perry Barlow, Gordon Bell, David P. Reed, Dan Ariely, Matthew Peterson, and Dan Bricklin, who were described as regular faculty members or contributors. Diamond expanded its corporate identity through a combination with the European consulting firm Cluster Consulting. The merger led to the adoption of the DiamondCluster International, Inc. name on November 28, 2000. The DiamondCluster structure reflected the firm's effort to combine its original technology and management consulting platform with an international consulting presence. Over time, however, the company divested portions of its international operations. In 2006, it adopted the name Diamond Management & Technology Consultants, Inc., emphasizing its management and technology advisory positioning. The company remained a smaller participant in a consulting market that included much larger firms such as Accenture, Deloitte Consulting, and Mercer Management Consulting. Its differentiation rested on specialist advice, technology expertise, sector knowledge, and an intellectual network focused on innovation and business transformation. The firm also acquired boutique consulting businesses in the United States before its sale, although the available reference material does not identify all of those acquisitions or their transaction dates. In 2010, PricewaterhouseCoopers pursued Diamond as part of the expansion of its advisory capabilities. PwC agreed to acquire the company for $12.50 in cash per share. The acquisition was completed on November 3, 2010. After closing, Diamond was renamed Diamond Advisory Services and integrated into PwC's Advisory Services organization. The integration ended Diamond's existence as an independent publicly traded consulting firm and brought its personnel and client capabilities into the PwC network.

• 2010

  PwC completes acquisition

  [1]Diamond Management & Technology Consultantsen.wikipedia.org

  PwC completes its acquisition of Diamond on November 3 and incorporates the business as Diamond Advisory Services.

• 2006

  Diamond Management & Technology Consultants name adopted

  [1]Diamond Management & Technology Consultantsen.wikipedia.org

  Following divestitures involving parts of its international operations, the company adopts its final independent corporate name.

• 2000

  DiamondCluster International name adopted

  [1]Diamond Management & Technology Consultantsen.wikipedia.org

  The company changes its name after merging with European consulting firm Cluster Consulting.

• 1998

  The company becomes publicly traded

  [1]Diamond Management & Technology Consultantsen.wikipedia.org

  Diamond Technology Partners completes its public offering and begins operating as a publicly listed consulting company.

• 1994

  Diamond Technology Partners is founded

  [1]Diamond Management & Technology Consultantsen.wikipedia.org

  Mel Bergstein and Chris Moffitt establish Diamond Technology Partners in Chicago with investment from founding partners and Safeguard Scientifics.

A specialist management and technology consultancy combining business strategy with technology-led transformation and access to an innovation-oriented professional network.

• Professional services · 1994

  Management and technology consulting

  Diamond's core offering was advisory work combining management consulting with technology expertise. The firm helped clients consider strategy, organizational change, operations, and technology-enabled transformation. Its work served multiple industries, including consumer packaged goods, financial services, health care, and other sectors. The available reference material does not provide a detailed service-line catalogue or named proprietary methodologies.

• Business publication · 1998

  Context Magazine

  Context Magazine was an industry publication produced by Diamond from 1998 to 2003. It addressed business and technology themes and helped extend the firm's thought-leadership presence beyond direct consulting engagements. Its inaugural issue included an interview with Bill Gates.

• Industry conference

  Diamond Exchange

  Diamond Exchange was a privately branded industry conference and intellectual forum associated with the firm. It brought together technology pioneers, researchers, and business figures, including contributors such as Alan Kay, John Perry Barlow, Gordon Bell, David P. Reed, Dan Ariely, Matthew Peterson, and Dan Bricklin. The forum supported Diamond's positioning around innovation and the future of business and technology.

• 2010

  Sale to PwCM&A

  Background

  PwC pursued Diamond to expand and strengthen its advisory capabilities.

  Action taken

  PwC agreed to acquire Diamond for $12.50 per share in cash and completed the transaction on November 3, 2010.

  Aftermath

  Diamond was renamed Diamond Advisory Services and integrated into PwC Advisory Services, ending its operation as an independent company.

  Acquisition consideration per share. $12.50 cash per share (2010)

  Source

• 2006

  Rebranding after international divestituresStrategy

  Background

  The company had divested portions of its international operations and revised its corporate positioning.

  Action taken

  It changed its name from DiamondCluster International to Diamond Management & Technology Consultants, Inc.

  Aftermath

  The new name placed greater emphasis on management and technology consulting under a more focused independent-company identity.

  Source

• 2000

  Merger with Cluster ConsultingM&A

  Background

  Diamond sought to combine its North American management and technology consulting platform with the European firm Cluster Consulting.

  Action taken

  The combined company adopted the DiamondCluster International, Inc. name on November 28, 2000.

  Aftermath

  The merger created a broader international consulting identity, although portions of the international operations were later divested.

  Source

1. 1Diamond Management & Technology Consultantsen.wikipedia.org