Accenture acquires O&G service provider; marks second acquisition in two days
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- Accenture (NYSE:ACN) has acquired True North Solutions, a service provider for midstream companies in the oil, gas and mining sector, which marks the second acquisition for the Dublin-based IT company in as many days.
- On Monday, Accenture announced the acquisition of India-based semiconductor design services provider, Excelmax Technologies.
- True North Solutions, based in Calgary, provides hardware and software systems for oil, gas and mining companies in the midstream sector, which run pipelines, refineries, plants and mines.
- “We are combining True North Solutions’ unique expertise with our advanced digital capabilities, such as digital thread, predictive maintenance and intelligent asset management, to improve the performance and safety of our clients’ field operations,” said Adam Foster, Accenture Canada’s Energy Portfolio leader.
- True North Solution will add 95 new employees with experience in automation, instrumentation and electrical engineering to Accenture’s digital engineering and manufacturing service, Industry X.
- Financial details of the acquisition were not made public.
- Other acquisitions Accenture has made in Canada include Comtech Group and Eclipse Automation.
- Accenture slipped 1% by early afternoon trading on Tuesday. It has dropped 15% year to date.