“Atos Origin acquisition of SchlumbergerSema : Special meeting of Shareholders”
PARIS/AMSTERDAM - January 22nd, 2004
Atos Origin, a leading international information technology services provider, will this morning hold a Special Meeting of Shareholders to approve the acquisition of the SchlumbergerSema from Schlumberger. At that meeting Atos Origin will give additional analysis of its preliminary unaudited results for 2003, an update on its merger integration plans and guidance on its expectations for trading in 2004, which will be made available on the Group's web site.
With respect to 2004 guidance, the Group believes that sentiment is improving slowly within the IT services market but that actual spending continues to be restrained, especially within Europe. Atos Origin expects no significant revenue improvement for the newly combined group in the first half of 2004 and reported revenues for the whole of 2004 are currently expected to be stable on a constant scope and exchange rate basis.
The Group is planning to accelerate its merger integration program and to complete most of the major actions within 2004, which should advance the benefits expected in 2005. Atos Origin currently expects the operating margin of the newly combined group in 2004 to exceed 7%.
The Group will provide guidance on expected year-end net debt when it reports fully audited results for 2003 on March 10th, 2004, by which time the merger restructuring plans will have been finalised.
About Atos Origin
Atos Origin is an international information technology services provider. Its business is turning client vision into results through the application of consulting, systems integration and managed operations, including outsourcing and on-line services. In August 2002, Atos Origin acquired KPMG Consulting in the UK and The Netherlands, trading as Atos KPMG Consulting. The company generated annual revenues of EUR 3 billion in 2003 and employs over 26,000 staff in 30 countries. The Group's client list includes major companies such as ABN AMRO, Akzo-Nobel, Alstom, BNP Paribas, BP, Euronext, Fiat, ICI, ING, KPN, Lucent, Philips, Renault, Royal Bank of Scotland, Saudi Aramco, Shell, UBS, Unilever, Vivendi Universal, Vodafone and Wolters Kluwer.
Sema Group was acquired by Schlumberger in 2001. It was subsequently renamed SchlumbergerSema and is a leading supplier of IT consulting, systems integration, and network and infrastructure services. In 2002 the company generated revenues of just under $ 3 billion. Schlumberger intends to retain those IT operations which directly support its core Oil & Gas businesses. The activities that will be acquired by Atos Origin produced annual revenues of approximately $ 2.6 billion in 2003.
SchlumbergerSema currently employs approximately 21,000 staff in more than 40 countries and has leading market positions in most of the major markets of Europe, notably in the UK, as well as in The Americas and Asia Pacific.
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