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PwC Buys Folio Tech Assets

PwC has acquired certain assets of Folio Technologies LLC, a provider of product portfolio optimization technology. Financial terms of the deal were not released. As part of the deal Folio’s founders, Hervé Kieffel and Renato Cedolin, will join PwC.

PwC US today announced it has acquired certain assets of Folio Technologies LLC, a provider of product portfolio optimization solutions. The acquisition broadens the firm’s current client service offerings and expertise through the expansion of PwC’s Transaction Services Valuation practice in areas including sustainability, project portfolio optimization, business analytics support, value based decision analysis and real options. As part of the transaction, Folio founders, Hervé Kieffel and Renato Cedolin, will join the practice as principal and director, respectively.

PwC’s valuation services team, within the firm’s Transaction Services practice, is made up of more than 250 partners and skilled professionals who provide clients with critical input on measuring fair value of assets for a variety of corporate initiatives, including evaluating transactions and managing accounting, financial reporting and tax planning and compliance issues across a range of industry sectors. Folio’s analytic and technical repertoire supports PwC’s financial analytics and derivatives service offering, which focuses on the analysis and valuation of complex financial instruments, such as derivatives, hybrid securities, hedging instruments and contingent payment agreements for a variety of corporate clients as well as the emerging valuation practice areas complemented by the Folio acquisition.

“The acquisition of assets from Folio exemplifies our entrepreneurial strategy and commitment to enhance our existing service offerings for clients by continuing to invest in innovative platforms and leading talent,” said John Glynn, U.S. Valuation Services Leader with PwC’s Transaction Services practice. “This deal provides us with a software platform on which we can accelerate the development of our next generation services and provide a more holistic, end-to-end service for clients during the deal process. We welcome the additions of Hervé and Renato, both are leaders and highly skilled in various areas of advanced analytics and will help broaden the team’s technical expertise.”

Hervé Kieffel has practiced quantitative modeling and decision analysis since 1992. Following his work as a scientific advisor to the government, Kieffel previously worked with PwC where he spear-headed algorithmic development for complex applications. In addition to leading Folio’s research and development effort, he serves as a consulting professor at Stanford teaching mathematical modeling at the graduate level. He holds a B.S. from Ecole Polytechnique (France), and an M.S. and Ph.D. in Operations Research from Stanford University.

Renato Cedolin has been an active participant in the growth in sophistication of project portfolio management software, from desktop applications to the cloud throughout his career. He has recently focused on developing and implementing online software products. He was an engineering executive at a popular, global Internet company before joining Folio. He holds a B.S. from Princeton University, and an M.S. and Ph.D. in Mechanical Engineering from Stanford University.

Financial terms of the deal will not be disclosed.

PwC’s Transaction Services
practice provides financial due diligence on both the buy and sell side of a deal, along with advice on M&A strategy, valuation, accounting, financial reporting, and capital raising. For companies in distressed situations, we advise on crisis avoidance, financial and operational restructuring and bankruptcy. With approximately 1,000 deal professionals in 16 cities in the U.S. and over 6,000 deal professionals in over 90 countries, experienced teams are deployed with deep industry and local market knowledge, and technical experience tailored to each client’s situation. Our field-proven, globally consistent, controlled deal process helps clients minimize their risks, progress with the right deals, and capture value both at the deal table and after the deal closes.

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