Accenture acquires US-based Octagon Research Solutions

New York-listed consulting and outsourcing firm Accenture Plc (NYSE:ACN) said it had agreed to buy US Octagon Research Solutions Inc, which provides clinical and regulatory information management solutions for the pharmaceutical industry.

The buyer did not reveal any details about the purchase price, but said the deal would help it deliver better solutions to its customers operating in the pharmaceutical industry. In addition, the acquisition will widen Accenture’s product portfolio.

With 380-strong headcount, Octagon is deeply experienced in clinical data services and regulatory submissions. It is also the fifth-largest user of the US Food and Drug Administration’s (FDA) electronic submission gateway. Following its takeover, the company will be integrated into Accenture’s Life Sciences division.

Given customers’ need to cut the time necessary for drug development and approval and get pharmaceuticals on the market sooner, the combination of the two companies fits perfectly well, David Boath, North America’s managing director for Accenture’s Life Sciences division, said.

Octagon’s chairman and chief executive James Walker believes that the marriage will combine industry expertise with global footprint and will help clients bring products to the market at lower cost and in a safe way.

The transaction, which needs regulatory clearance, is scheduled to close within two months.

Wayne, Pennsylvania-headquartered Octagon, set up in 1999, has operations in USA, London, the UK, and Bangalore, India. It offers a wide range of outsourced services, strategic consulting and innovative technology, thus improving and making the whole drug development lifecycle more effective.

Accenture serves clients in over 120 countries worldwide. Its net revenue for the fiscal year ended 31 August 2011 amounted to of USD25.5bn (EUR20.8bn).

Halliburton unit acquires oil software firm Petris

Acting through its Landmark Software and Services unit, US oilfield services provider Halliburton Company (NYSE:HAL) has bought Petris Technology Inc for an undisclosed amount.

Petris is headquartered in Houston, Texas and has been doing business since 1994. The company specialises in data management and integration solutions designed for use by oil and gas companies. Petris aims to help customers make the most of their infrastructure investment by providing them with information in any format, at any place and at any time.

The deal gives Halliburton ownership of the entire Petris portfolio, which includes the PetrisWINDS family of products. The suite contains solutions such as Recall Data Management, DataVera, Enterprise and DrillNET and Halliburton will make them available to its customers through its DecisionSpace portfolio. The latter has been developed to provide upstream operators with tools that facilitate collaboration and decision-making by easy access to multiple sources of specialist data.

As a result of this acquisition, Halliburton will be placed in a unique position to serve oil and gas producers. It will have the capabilities to provide customers with unparallelled access to technical information on reservoirs and wells, making mission-critical data available wherever and whenever clients needs it, the company said.

Gene Minnich, who serves as vice-president of Landmark Software and Services, stated that customers would have their entire body of scientific data in one place. This means that they will be able to make operational and economic decisions in less time without compromising on safety and accuracy, Minnich added.