Schlumberger acquires CellNet Data Systems

Schlumberger Ltd.'s Resource Management Services has acquired most of the assets of CellNet Data Systems, Inc., a provider of telemetry services, for a total of $235 million. Schlumberger bought the controlling interest as part of CellNet's Chapter 11 bankruptcy filing and has agreed to take on some of CellNet's debts. Schlumberger's revenue was $8.4 billion in 1999. Schlumberger is at booth 1007.