IBM acquires Schlumberger Business Continuity Services unit

IBM has signed an agreement with Schlumberger to acquire its Business Continuity Services unit, which has operations in Europe and the US. The terms of the agreement have not been disclosed, but Continuity Central understands that there was stiff competition from other interested parties and that IBM may have paid a premium price for the assets. The acquisition will increase the capabilities of IBM’s Global Services division.

Schlumberger’s Business Continuity Services unit (SBCS), was formerly part of its SchlumbergerSema business which was sold to Atos Origin in September 2003. SBCS was one of several SchlumbergerSema retained by Schlumberger. SBCS offers business continuity services to many major financial institutions, government bodies and international corporations and has more than 40 modern recovery sites worldwide. Under the acquisition, IBM will gain more than 10,000 recovery seats configured as financial trading rooms, call centres and workplaces.

SBCS, headquartered in London, has long-term contracts with more than 750 clients around the world. IBM intends to combine Schlumberger Business Continuity Services' sales organisation and employees into one dedicated organisation within IBM Global Services. More than 260 SBCS employees are expected to transfer to IBM.

•Date: 14th April 2004 •Region: UK/US/W.Europe •Type: Article •Topic: BC markets
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