ROCKWELL AUTOMATION, INC acquired Sensia (joint venture with Schlumberger) for $327.9 million total purchase consideration net of cash (Rockwell cash contribution of $247.0 million net of cash acquired), a transaction completed in October 2019, structured as joint venture (Rockwell 53% / Schlumberger 47%). The deal was a Joint venture formation.
Sensia (joint venture with Schlumberger) operates in Lifecycle Services. On October 1, 2019, Rockwell completed the formation of Sensia, a fully integrated digital oilfield automation solutions provider, as a joint venture that leverages Schlumberger's oil and gas domain knowledge and Rockwell's automation and information expertise. Rockwell owns 53% and consolidates Sensia; Schlumberger owns 47%.
Combines Schlumberger's oil & gas domain knowledge with Rockwell's automation and information expertise.
Consolidated as Sensia (Lifecycle Services)
Advisory firms were not disclosed for this transaction.