Cleary Gottlieb represented Rothschild & Cie as financial advisor to Schlumberger Limited in the sale of its SchlumbergerSema core IT businesses to Atos Origin for approximately $1.5 billion, consisting of €400 million in cash and 19.3 million Atos Origin common shares. The deal was announced today and is expected to close in January 2004, subject to Atos Origin shareholder and regulatory approvals.
The transaction will create a global IT services company with total annual revenues of more than €5 billion. SchlumbergerSema is a leading supplier of IT consulting, systems integration, and network and infrastructure services to energy and telecommunications companies and financial markets around the world. Schlumberger is a global oilfield and information services company with major activity in the energy industry. Atos Origin is an international information technology services provider that Cleary represented in its 2002 acquisition of KPMG’s UK and Netherlands consulting units.