The acquisition will allow Siemens to benefit from the U.S. shale-gas boom.

German-based engineering giant Siemens has agreed to purchase oil-equipment manufacturer Dresser-Rand Group Inc. of Houston, continuing the popular trend of mergers and acquisitions taking place in what is now known as the energy capital of the world. 

Siemens will pay $7.6 billion in cash, and will receive a much stronger foothold in the U.S., the Wall Street Journal reports. Dresser-Rand's ability to domestically produce compressors, turbines and other rotating equipment will complement Siemens's own gas turbines and equipment production capabilities. As a result, Siemens should be able to expand its gas-extraction capabilities in the U.S., while boosting its hydraulic fracturing efforts. 

"As the premium brand in the global energy infrastructure markets, Dresser-Rand is a perfect fit for the Siemens portfolio," Siemens Chief Executive Joe Kaeser said in a press release announcing the acquisition. Siemens said its $83 per-share bid was unanimously supported by Dresser-Rand's board of directors.

The acquisition is a major element of Siemens organization change management strategy, known internally as "Vision 2020." The plan involves reducing consumer interests, and focusing more heavily on industrial customers as well as increasing its presence in the U.S., where it has previously ceded ground to competitors such as General Electric. According to the source, Siemens' U.S. efforts produced $3.7 billion in revenue in the previous fiscal year, while GE generated roughly $20 billion in its oil and gas operations alone. 

As the domestic energy market grows more competitive with the introduction of major foreign players, some organizations may experience the need for oil and gas management consulting to determine new areas of opportunity or to streamline operations. With any merger or acquisition, their are also concerns for the development of a new organizational culture. Experienced consultants can ensure a smooth transition, and help personnel understand how the changes will impact their day-to-day operations.