Accenture has acquired Schlumberger Business Consulting (SBC), the management consulting arm of Schlumberger, for an undisclosed amount. Over 250 consultants operating from nine offices worldwide will be integrated into Accenture’s Strategy business unit.
Schlumberger Business Consulting (SBC) is a global player in the energy and utilities sector, with a particular focus on clients in the upstream oil and gas industry. The company provides consulting services in strategy, operations, people & transformation, capital projects and mergers & acquisitions. Founded in 2004, Schlumberger Business Consulting has grown to become a team of over 250 consultants operating from nine offices worldwide.
With the acquisition of Schlumberger Business Consulting, Accenture – according to Gartner one of the 10 largest management consulting firms of the globe – significantly bolsters its capabilities in the rapidly changing energy landscape. Partly driven by oil price volatility, but also by increased regulation and technology advances, the upstream oil and gas sector is undergoing a fundamental transformation. Energy companies are also under pressure to among others improve internal performance in delivering large capital projects, reduce production costs and extend into new areas, including renewables.
According to Jean-Marc Ollagnier, Chief Executive of Accenture’s Resources operating group, the move will elevate the firm’s ability to assist companies improve portfolio optimisation, enhance operational agility and cost competitiveness, as well as plan and execute digital-driven transformations.
Following completion of the acquisition – the deal is still subject to regulatory approval and other customary closing conditions – all of the Schlumberger Business Consulting (SBC) employees will join Accenture’s Strategy business unit. Mark Knickrehm, Chief Executive of Accenture Strategy, adds: “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.”
In a reaction to the deal, Jean-Marie Rousset, Senior Vice President of Schlumberger Business Consulting, says that SBC’s management consulting expertise in the oil & gas industry “perfectly complements Accenture’s broader services portfolio”, referring to the firm’s wide range of strategy, consulting, digital and technology services offerings.
Last month Accenture acquired US-based Chaotic Moon, a creative technology studio that creates and develops user-cantered experiences, while in the UK Accenture in May bought Javelin Group, adding 160 retail advisors to its Strategy platform.