Schlumberger snaps up Sema

Struggling IT company Sema is to be bought up by major US oilfield services company Schlumberger to enable the US company to extend its portfolio of offerings

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By  Mark Sutton Published  February 12, 2001

Schlumberger group has announced its agree to purchase Sema for £3.6 billion. The troubled Anglo-French IT company will be sold to the US oilfield services company for £5.60 per share, a total of about $5.3 billion.

Sema, which is part owned by France Telecom and BNP Paribas had suffered from a falling share price due to problems integrating LHS Group last year. Schlumberger will be looking to use Sema’s expertise to provide computer consulting to the oil business, and to utilities and mobile phone operators, according to Schlumberger chief executive Euan Baird: "What Sema brings is a huge input of consulting and its integration skills to accelerate a direction taken over the last five years," he said.

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