Accenture acquires O&G services provider, second acquisition in two days

Accent (NYSE:ACN) has acquired True North Solutions, a provider of services to oil, gas and mining companies. This is the Dublin-based IT firm’s second acquisition in as many days.
On Monday, Accenture announced the acquisition Indian semiconductor design services provider, Excelmax Technologies.
Calgary-based True North Solutions provides hardware and software to oil, gas and midstream mining companies that manage 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 efficiency and safety of our clients’ field operations,” said Adam Foster, energy portfolio leader, Accenture Canada.
True North Solution is hiring 95 new automation, measurement and electrical engineering professionals to support Accenture’s Industry X digital engineering and manufacturing services.
Financial details of the acquisition were not disclosed.
Other acquisitions by Accenture in Canada include Comtech Group and Eclipse Automation.
Accent fell by 1% until early afternoon on Tuesday. It has dropped by 15% since the beginning of the year.