Global management consulting firm Oliver Wyman has entered into an agreement to acquire Booz Allen Hamilton’s management consulting business serving the Middle East and North Africa (MENA) region, it said on Wednesday.
The acquired entity will join Oliver Wyman’s India, Middle East and Africa (IMEA) practice.
The deal gives Oliver Wyman, owned by NYSE-listed Marsh McLennan, a management consulting practice fully dedicated to the MENA region, expanding its strategic capabilities and accelerating its growth position in the Middle East and beyond.
Booz Allen is a leading strategic advisory firm and one of the Middle East’s longest serving management consultancies, supporting clients across the private and public sector. With this acquisition, its MENA-based management consulting business will join Oliver Wyman’s more than 5,500 professionals worldwide fully focused on international management and strategy consulting, with dedicated investments in strategy, operations, risk management, and organizational transformation.
“With Oliver Wyman’s unwavering commitment to breakthrough impact, we’ve long admired Booz Allen Hamilton’s shared ethos of client excellence and deep sector expertise of the highest standards,” said Pedro Oliveira, Managing Partner of Oliver Wyman IMEA. “Indeed, Oliver Wyman and Booz Allen already share a long history, with two former Booz Allen Hamilton partners having founded Oliver Wyman, and we are deeply pleased this culture of entrepreneurship and DNA of deep-seated values endures some four decades later. We are confident this move to come together will offer exponential value to our clients, and we look forward to welcoming them to the Oliver Wyman team.”
Booz Allen Executive Vice President and MENA Managing Director Souheil Moukaddem will join Oliver Wyman’s Management Leadership Council, led by Pedro Oliveira.
Booz Allen employs approximately 29,500 people globally and posted revenue of $7.9 billion for the 12 months ended March 31, 2021.