Booz Allen Hamilton has completed the sale of its Middle East- and North Africa-focused business to management consulting firm Oliver Wyman. The financial details of the transaction were not made public.
As a result of the closed acquisition agreement, the Booz Allen MENA team will be added to Oliver Wyman’s United Arab Emirates and Saudi Arabia offices, according to a joint announcement published Thursday.
“Combining Booz Allen’s respected regional legacy with Oliver Wyman’s deep sector insights and expertise, we are delighted to contribute to Oliver Wyman’s exciting growth trajectory in the region,” stated Souheil Moukaddem, partner at Oliver Wyman and former partner and managing director for Booz Allen Hamilton MENA.
Booz Allen’s MENA-located strategy consulting arm is expected to strengthen the cyber, climate and sustainability portfolio capabilities of Oliver Wyman while enabling it to better serve its financial services, energy and public sector clientele.
Moukaddem additionally remarked that he believes Booz’s team will heighten the impacts of Oliver Wyman’s already proven accomplishments throughout India, the Middle East and Africa and that market expansion is imminent.
The transaction was assisted and confirmed by local competition officials. According to Pedro Oliveira, managing partner of Oliver Wyman’s IMEA arm, the deal ranks among the most important acquisitions for the business in the last decade. Oliveira also noted that the shared customer base has responded favorably to the deal, offering positive feedback.
Former Booz Allen executives Alex Oliver and Bill Wyman established Oliver Wyman in 1984. It currently operates under the auspices of parent professional services firm Marsh McLennan.
The sale of its MENA business to Oliver Wyman follows a number of investments and mergers and acquisitions announcements for Booz Allen this year. In July, the company pledged a strategic investment in artificial intelligence company Synthetaic and in March, it declared its intention to acquire government services company EverWatch.