Rockwell Automation and Schlumberger announced the closing of their previously-announced joint venture, Sensia, the oil and gas industry’s digitally enabled, integrated automation solutions provider.
The joint venture leverages Schlumberger’s deep oil and gas domain knowledge and Rockwell Automation’s automation and information expertise to address this fast-growing market.
Headquartered in Houston, Texas, Sensia is projected to generate initial annual revenue of $400 million and employ approximately 1,000 employees.
Sensia will operate as an independent entity, with Rockwell Automation owning 53 percent and Schlumberger owning 47 percent of the joint venture. Rockwell Automation made a $250 million cash payment to Schlumberger at closing.