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Schlumberger Scoops Up Techsia SA

|Includes:Schlumberger Limited (SLB)

The oil services giant Schlumberger Ltd. has purchased Techsia SA, a small petrochemical computer analytic company.  This move could signal the beginning of the consolidation in the services sub-sector that analysts have been long predicting.  The company has just over 50 employees, and no financial terms were announced with the deal.  These types of small services firms have no doubt seen their value fall significantly during the global financial crisis and it is likley that if Schlumberger paid a large "premium" for the company it was still less than its value a year ago.

Stocks: SLB