Accenture to acquire Schlumberger Business Consulting

HOUSTON -- Accenture has entered into an agreement to acquire Schlumberger Business Consulting (SBC), the management consulting unit of Schlumberger. The acquisition will expand the capabilities of Accenture Strategy in helping the world’s major E&P companies achieve greater competitiveness and growth. 

SBC provides consulting services in strategy, operations, people & transformation, capital projects, and mergers & acquisitions. Founded in 2004, Schlumberger Business Consulting has grown rapidly to become a global consulting firm, with over 250 consultants operating from nine offices worldwide.

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.

“The acquisition will further strengthen Accenture Strategy’s ability to provide key strategic insights to clients in the upstream oil and gas industry,” said Mark Knickrehm, group chief executive, Accenture Strategy. “Our technology-driven business strategies and digital knowledge complement the core consulting strengths of the professionals who will join us through this acquisition.”

“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.”

Terms of the acquisition were not disclosed, and completion of the acquisition is subject to regulatory approval and other customary closing conditions.