Schlumberger to acquire Sema

U.S. technology services company Schlumberger Ltd. will acquire IT systems and services company Sema PLC in a deal valued at US$5.2 billion, the company announced Monday.

Schlumberger will pay $8.09 in cash for each Sema share and $16.18 for each Sema ADS share, which is equal in value to two Sema shares, Schlumberger said in a statement. The acquisition of Sema, with dual headquarters in France and England, is to be finalized in the second quarter of the year, Schlumberger said.

Schlumberger said Sema’s smart card and phone card technologies would help it reach its five-year projected growth targets. Schlumberger’s existing smart card operations belong to its test and transactions division, which also includes semiconductor, network and electronic transaction products and services. The company’s other two business divisions are resource management services and oil field services.

Schlumberger also announced on Friday that it is purchasing from Groupe Bull SA the smart card unit known as Bull CP8, for US$325 million.

In morning trading on the London Stock Exchange, Sema (SEM.LON) shares rose 15.4 per cent to US$7.92 per share, an increase of 0.73 pounds per share, according to the London Stock Exchange Web site.

Schlumberger, in New York, can be reached at Sema, with dual headquarters in Montrouge, France and London, can be contacted at