Schlumberger to buy Sema

Schlumberger intends to accelerate its IT strategy and enhance its system integration capabilities with the acquisition of Franco-British consulting house Sema Group. The deal is valued at $ 5.2 billion.

Schlumberger has reached an agreement with the board of directors of Sema plc on the terms of a recommended offer for the entire share capital of Sema. The transaction is valued at approximately $5.2 billion fully diluted. The Sema Board intends unanimously to recommend the offer.


Schlumberger Chairman and CEO Euan Baird said, “The acquisition of Sema will enable us to accelerate significantly our existing information technology strategy. It will enhance our capabilities and critical mass in systems integration, widen our IT skills and create revenue synergies in many of our core competencies. I am confident that the excellent personal relationships which we have developed with senior Sema management and the strong cultural fit between our organizations will facilitate the integration and subsequent growth of Sema within the Schlumberger group. We believe that Sema is the catalyst that will help us approach the five-year goals for growth and profitability that I set out two years ago.”


“For several years, we have been actively exploiting IT to improve our internal business processes and efficiencies, to grow our existing businesses and to develop new IT-based revenue generation opportunities. Such initiatives have been ongoing in all three of the Schlumberger core vertical markets: oilfield services, wireless telecom and utilities.


The winners in the Internet age will be companies with excellent products and market shares in specific verticals that are able to substantially enhance their business models with these new technologies. We need to continue to add strong IT technology, systems integration and consulting competencies on a global scale to accelerate the growth in our core vertical markets and to establish ourselves as a leading information solutions provider in those core vertical markets. Sema provides us with such competencies.” Schlumberger expects to complete this transaction in the second quarter of 2001.

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