The IPA 100 posted another year of double-digit growth, but the underlying numbers show a widening divide between total and organic growth. Total net revenue growth reached 12.8%, up from 10.4% last year. Organic growth moved in the opposite direction, falling from 7.8% to 7.0%, its slowest pace in five years. The gap reflects how much acquisitions now contribute to growth among the profession’s largest firms. The IPA 100 completed 211 mergers d…
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