Accenture has entered into an agreement to acquire Schlumberger Business Consulting (SBC), the management consulting unit of Schlumberger, a global leader in oilfield services. The acquisition will expand the capabilities of Accenture Strategy in helping the world's major exploration and production companies achieve greater competitiveness and growth. Terms of the acquisition were not disclosed, and completion of the acquisition is subject to regulatory approval and other customary closing conditions.

Schlumberger Business Consulting (SBC) is a management consulting provider in the upstream oil and gas industry, and a leading player in the energy sector more generally. The company 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 Schlumberger Business Consulting (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 improve portfolio optimization, enhance operational agility and cost competitiveness, as well as plan and execute digital-driven transformations.

Tags: Accenture, Schlumberger