IT group in talks with Schlumberger


13-02-2001

Schlumberger, the Franco-American group has tabled a 3.

6 billion takeover offer for information technology group Sema, it emerged yesterday (Monday).



Schlumberger said it had reached agreement with Sema on the terms of a recommended 560p-a-share offer for the group.



The Franco-American oilfield services and technology group said the Sema board ''intends unanimously to recommend the offer''.



Euan Baird, Schlumberger's chairman and chief executive, said: ''The acquisition of Sema will enable us to accelerate significantly our existing information technology strategy.



''It will enhance our capabilities and critical mass in systems integration, widen our IT skills and create revenue synergies in many of our core competencies.''