Accenture Plans to Acquire Schlumberger's Consulting Unit
Global consulting firm Accenture is set to acquire Schlumberger Business Consulting (SBC), the management consulting arm of oilfield giant Schlumberger Ltd.
Dublin-based Accenture plans to buy the SBC, which employs 250 consultants from nine offices across the globe. SBC was founded in 2004 and provides consulting services in strategy; operations; people and transformation; capital projects and mergers and acquisitions.
This acquisition will allow Accenture to widen its capabilities to help major exploration and production companies remain competitive and grow, which is especially important considering the tough time many E&P companies have had during the current downturn.
“The upstream oil and gas sector is undergoing a fundamental transformation, partly driven by oil price volatility, but also by increased regulation and technology advances,” Jean-Marc Ollagnier, group chief executive of Accenture’s Resources operating group, said in a release. “Energy companies are also under pressure to improve internal performance in delivering large capital projects, reduce production costs and extend into new areas, including renewables.”
Ollagnier added that the acquisition will enhance Accenture’s capabilities in “helping clients navigate these challenges with a combination of business, digital and technology knowhow.”
Arthur Hanna, managing director, who leads Accenture’s energy strategy business said in a statement that Accenture plans for all 250 SBC employees to become Accenture employees and anticipated “minimal need for employees to relocate between cities or regions as part of this acquisition.”
Terms of the SBC acquisition are undisclosed as completion of the acquisition is subject to regulatory approval. However, Accenture completed its acquisition of London-based EnergyQuote JHA, an energy management and procurement services provider August 18, less than 30 days after initially announcing the acquisition July 21.
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