Oliver Wyman has declared a big offer in the Middle East and North Africa, agreeing to acquire the management consulting organization of Booz Allen Hamilton.
With a heritage in the Center East that goes back again additional than 6 a long time, Booz Allen Hamilton is just one of the ideal recognized consulting models in the region.
Oliver Wyman in the meantime was launched in the US virtually 4 decades ago (notably by two Booz Allen Hamilton partners), and has been present in the Center East given that 2005 when the firm introduced its to start with office.
The settlement concerning the two consulting giants (Booz Allen Hamilton has spherical 30,000 staff members globally and Oliver Wyman around 5,500) now sees Oliver Wyman acquire Booz Allen Hamilton’s system and administration consulting company in MENA. Consultants in Abu Dhabi, Beirut, Cairo, Doha, Dubai and Riyadh will cross to Oliver Wyman.
As part of the transaction, which is expected to near afterwards in 2022, Booz Allen Hamilton will keep its remit and staff that serves US govt clientele with technology (cyber, safety, cloud) expert services and protection offerings.
“Booz Allen is a leading strategic advisory business and just one of the Center East’s longest serving management consultancies, supporting shoppers throughout the private and public sector,” reported Nick Studer, President and CEO of Oliver Wyman.
Pedro Oliveira, Managing Companion of Oliver Wyman in India, the Middle East and Africa, added: “We’ve extended admired Booz Allen Hamilton’s ethos of customer excellence and deep sector abilities of the optimum specifications. We are self-confident this move to come with each other will provide exponential value to our purchasers, and we seem ahead to welcoming them to the Oliver Wyman group.”
For Oliver Wyman, a $2.5 billion small business globally, the signing up for of forces expands its strategic abilities throughout industries, in unique in the energy, actual estate, money expert services, and community sectors. “In addition, Booz Allen’s specialised cybersecurity offering will improve our promptly escalating electronic capabilities in the Center East,” mentioned Oliveira.
In the meantime, for Booz Allen Hamilton, the shift sees it sign up for a organization focused to technique and management consulting – Booz Allen has about the years notably transitioned into a technology significant enterprise. “Oliver Wyman is a world wide administration consulting leader that will be a good house for our people, abilities and clientele,” claimed Souheil Moukaddem, Booz Allen’s MENA Managing Director.
“Bringing jointly our shared eyesight for the Middle East, cultures of entrepreneurship, inclusivity and range, and leading tactic consulting abilities will produce remarkable benefit as we enter a new period together.”
Karen Dahut, Booz Allen’s International Defense Sector President, extra: “Oliver Wyman offers the management consulting focus, investment decision and tradition that will enable our individuals and purchasers to prosper, even though enabling Booz Allen to retain a main concentration on serving US govt clientele at the heart of mission and technological know-how.”
The transaction is topic to customary closing situations. Fiscal information have not been introduced.
The exit of an legendary brand name
For the sector as a complete, once closed the shift would see a person of the region’s most legendary brands go away the management consulting phase (Booz Allen will continue being lively in the region in other segments).
Again in 2008, when Booz Allen Hamilton split into two companies, the location by now witnessed the exit of the Booz Allen Hamilton brand when Booz & Company was incepted to provide markets exterior of the US, which include the Middle East and North Africa.
But shortly before Booz & Company was bought by PwC (which then rebranded the agency to Technique&), Booz Allen Hamilton experienced built a grand return to the region. In 2012, Booz Allen re-launched in Kuwait, Qatar, Lebanon and the UAE, paying out the past decade successfully rebuilding its small business (due to the fact 2017 less than the management of Moukaddem).
In linked news, earlier this 12 months Oliver Wyman boosted its presence in Australia with the acquisition of Azure Consulting. Late 2021, the agency bought the lifetime sciences approach exercise of Huron in the US.