| Schlumberger to sell SchlumbergerSema Schlumberger Limited has announced that it has signed a binding agreement to sell the majority of its SchlumbergerSema business to Atos Origin. The transaction proceeds will amount to approximately $1.5 billion consisting of €400 million in cash and a fixed number of 19.3 million of Atos Origin common shares. Schlumberger will retain a number of specific SchlumbergerSema businesses, including the business continuity division. Commenting on this transaction, Andrew Gould, chairman and chief executive officer, said: "The future for Schlumberger services to the upstream oil and gas industry is exceptionally bright as the world adds new supply capacity to meet demand and replace production from aging hydrocarbon reservoirs. Key amongst the techniques required to enhance hydrocarbon recovery will be the information technologies that enable real-time reservoir description, monitoring and management. "Schlumberger has the fundamental IT knowledge needed and will address these opportunities through the expanded Schlumberger Information Solutions operating unit that is part of Schlumberger Oilfield Services. The activities of this unit include technical consulting, information management and Exploration & Production (E&P) software augmented by E&P business process optimization together with secure worldwide network connectivity from sub-surface to desktop." Gould further stated: Atos Origin is an international information technology services provider. Its business is ‘turning client vision into results through the application of consulting, systems integration and managed operations, including outsourcing and on-line services’. In August 2002, Atos Origin acquired KPMG Consulting in the UK and The Netherlands, trading as Atos KPMG Consulting. The company generates annual revenues of EUR 3 billion and employs 28,000 staff in 30 countries. www.atosorigin.com
•Date:
22nd September 2003 •Region: World •Type:
Article •Topic: BC
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