Deloitte has acquired US consulting firm Monitor in a $116.2m (£72.6m) deal.

This follows the announcement last November that Monitor Company Group LP was to file for bankruptcy with estimated liabilities and assets of between $100m and $500m. At the time Monitor's clients included Fortune 500 companies, international governments and social sector organisations. Although the consultancy has always been tight-lipped about its clients, there are likely to be synergies with Deloitte's healthcare consulting list.

The Big Four firm says that Monitor's 'talent and assets will combine with Deloitte's consulting strategy service lines'.

In the UK, Monitor will initially operate under the Monitor Deloitte brand, while Deloitte's strategy practice will continue to operate as Deloitte. Monitor already had a UK based office in southwest London with a team focusing on European, rather than purely UK focused, clients.

David Sproul, senior partner at Deloitte says: 'The acquisition of Monitor confirms the significant role that our strategy consulting practice will play in delivering on the growth ambitions I have set for the UK firm.

'This is an important, global transaction that further enhances our ability to serve clients from strategy to execution - helping them solve their most critical challenges and capitalise on opportunities in a global economy.'

Simon Hammett, CEO of Monitor Deloitte Europe, says: 'This acquisition will transform our strategy consultancy practice on a global scale and further accelerate our impact in the UK. The growing business demands placed on companies today mean their needs for strategic guidance are increasing.'

Historically, Deloitte has a strong consulting base in the UK healthcare and life sciences, and consumer industries, which it will be able to build on with the acquisition of Monitor.

The transaction was completed following approval by the US Bankruptcy Court for the District of Delaware on 11 January 2013.