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Report: Schlumberger to buy Sema |
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February 12, 2001
NEW YORK (AP) — Energy services giant Schlumberger Ltd. reportedly is near an agreement to buy Sema PLC, a London-based information technology services company, for about $4.9 billion. A deal could be announced as early as Monday, The Wall Street Journal reported on its Web site on Sunday, citing people familiar with the matter. The acquisition would help New York-based Schlumberger enlarge its growing systems-integration business, particularly in the development of smart cards, or wallet-sized devices embedded with microchips. A spokeswoman for Schlumberger said late Sunday that the company would not comment on ``rumors.'' Sema could not immediately be reached for comment. Schlumberger, which earned $735 million in 2000, is the world's No. 2 oil field services company. Sema, which is minority-owned by France Telecom SA, is Europe's second-largest technology services firm behind Cap Gemini, conducting business with financial, telecommunications and and energy companies. Shares of Sema rose roughly 20 percent last week after it announced it had been approached by unnamed suitors. Sema's board met Friday to consider the Schlumberger offer, while investment bankers representing both companies tried to work out an agreement over the weekend, the Journal reported. Sema recently appointed Credit Suisse First Boston and NM Rothschild & Sons to explore strategic options, the Journal reported. |