Accenture to acquire Schlumberger unit to expand operations

Accenture to acquire Schlumberger unit to expand operations 20 Aug 2015 3:22 AM  Accenture said it had entered into an agreement to acquire Schlumberger Business Consulting, the management consulting unit of Schlumberger, a global leader in oilfield services. Accenture is a global management consulting, technology services and outsourcing company, with more than 336,000 people serving clients in more than 120 countries. The company in a statement said the acquisitioan would expand the capabilities of Accenture Strategy in helping the world’s major exploration and production companies achieve greater competitiveness and growth. According to the statement, the terms of the acquisition were not disclosed, and completion of the acquisition is subject to regulatory approval and other customary closing conditions. SBC is a management consulting provider in the upstream oil and gas industry, and a leading player in the energy sector more generally. Founded in 2004, the company provides consulting services in strategy, operations, people and transformation, capital projects, and mergers and acquisitions. According to the statement, following completion of the acquisition, all of the SBC employees and associated knowledge assets are expected to join Accenture and become part of Accenture Strategy, further strengthening its ability to assist upstream oil and gas companies in improving portfolio optimisation, enhance operational agility and cost competitiveness, as well as plan and execute digital-driven transformations. The Group Chief Executive Officer, Accenture Strategy, Mark Knickrehm, was quoted as saying, “The acquisition will further strengthen Accenture Strategy’s ability to provide key strategic insights to clients in the upstream oil and gas industry. Our technology-driven business strategies and digital knowledge complement the core consulting strengths of the professionals who will join us through this acquisition.” Copyright PUNCH. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH. Contact: editor@punchng.com