Schlumberger's defenders said it has been a leading technology company for decades and has developed many breakthrough technologies in seismic exploration and oil field development. It will also let the company offer a wider range of computer services to its energy clients, he said. Passwords don't work.
Nobody can read what is on the chip.
While Schlumberger is betting it can gain market share and revenue outside of the oil field, there are plenty of doubters. Schlumberger's big bet on Sema also concerns John L. Nichol, a portfolio manager at Federated Utility Fund, owned by Federated Investors in Pittsburgh. Nichol's fund has a big position in Schlumberger, and he believes the company paid too much for Sema, which missed its profit projections last year. Nevertheless, Nichol is still bullish on Schlumberger, thanks to surging energy prices. Use PCS Innovations' technology to provide secure wireless communi- cations to utility industry clients.