Schlumberger holds on to telecomms and smart cards...for now
SchlumbergerSema's telecomms software activity will not be included in the deal to sell most of the company to IT services giant, Atos Origin.
However, the company did say that its telecoms software business, along with its smart cards business, are still being considered for divestiture or IPO.
SchlumbergerSema, the IT services arm of Schlumberger, was sold to Atos Origin for EUR1.3 billion, just two years after Schlumberger bought Sema for EUR4.5 billion.
Schlumberger will receive around EUR400 million of the deal in cash, with the rest accounted for in Atos stock, enough to give it a 29% ownership of the company. Over time, this will be reduced to a 19% share.
The deal would make the combined group Europe's second largest IT services company behind Cap Gemini Ernst & Young.
Andrew Gould, Schlumberger ceo, said that the sale reflected the phase of consolidation that the IT services industry is going through. The company will also retain its business continuity business and Infodata -- a Swedish database company -- along with its point-of-sale terminals, payment systems, eCity terminals and payphones businesses, although these too are earmarked for disposal.
To emphasise the move away from the parent company, Schlumberger Smart Cards and Terminals, simultaneously announced that it has changed its name to Axalto to bring more visibility and to reinforce its separate image in the smart card market. The division opted for a name which, it said, reflects its strategy.
"As Axalto, we will continue to lead through meeting the challenges of the international marketplace, developing and deploying high-quality products and solutions and making a visible difference to our customers' businesses worldwide," said Olivier Piou, president of Axalto.
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