Schlumberger Buys 'The Geoservices Group'
Schlumberger (NYSE:SLB) announced it has made a deal to acquire French company 'The Geoservices Group' for $1.07 billion. The Geoservices Group is an oil service company.
French private equity firm 'Astorg Partner' owned the company, along with an unknown number of minority shareholders, which has operations in 52 countries and employs about 5,000 workers.
Geoservices helps its customers in identifying and taking care of any drilling hazards they may face, and provide a better understanding of the geographical area they're drilling in.
Geoservices has a technology called "mud logging" which will complement the drilling systems used by Schlumberger.
Schlumberger Buys 'The Geoservices Group'
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