Accenture to acquire Schlumberger Business Consulting

Accenture (NYSE: ACN) has entered into an agreement to acquire Schlumberger Business Consulting (SBC), the management consulting unit of Schlumberger. Terms of the acquisition were not disclosed.

SBC is a management consulting provider in the global upstream oil and gas industry, and a player in the energy sector more generally. The company provides consulting services in strategy, operations, people and transformation, capital projects, and mergers and acquisitions.  

Following completion of the acquisition, SBC employees and associated knowledge assets are expected to join Accenture and become part of Accenture Strategy, further strengthening Accenture’s ability to assist upstream oil and gas companies improve portfolio optimization, enhance operational agility and cost competitiveness, and plan and execute digital-driven transformations.

“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,” said Jean-Marc Ollagnier, group chief executive, Accenture’s Resources operating group. “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. This acquisition will enhance our capabilities in helping clients navigate these challenges with a combination of business, digital, and technology knowhow that differentiates us in this global market.”

 

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