logo
Plus   Neg
Share
Email

Rockwell, Schlumberger Announce Closing Of JV - Quick Facts

Rockwell Automation (ROK) and Schlumberger (SLB) announced the closing of their joint venture, Sensia. Rockwell Automation made a $250 million cash payment to Schlumberger at closing.

Headquartered in Houston, Texas, the Sensia joint venture is projected to generate initial annual revenue of $400 million. It will employ approximately 1,000 employees.

"Sensia will make industrial-scale digitalization and seamless automation available to every oil and gas company so their assets can operate more productively and profitably," said Allan Rentcome, CEO of the joint venture.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Delta Air Lines Inc. said Friday that it will invest $1 billion over the next decade to mitigate all greenhouse gas emissions from its global business, starting March 1, 2020. The company intends to become the first airline in the world to go carbon neutral. The airline said that over the next decade, it will spend $1 billion to drive innovation and advance clean-air travel technologies. Crown Castle International Corp. (REIT) (CCI) is currently gaining over 1% on Friday morning. Early this week, a U.S. District judge ruled in favor of Sprint and T-Mobile's long-pending $26 billion merger deal. The judge dismissed a lawsuit brought by a group of State Attorneys General. The deal is... Online furniture retailer Wayfair Inc. is cutting 550 jobs, or about 3 percent of its workforce, reports on Thursday quoted a company spokesperson as saying. The job cuts will impact about 350 employees at Wayfair's corporate headquarters in Boston. The company has more than 16,000 employees globally. Wayfair's shares tumbled 14 percent in Thursday's trading session following news of the job cuts.
Follow RTT
>