Magazine article American Banker

Schlumberger Merges Electronics, Smart Cards

Magazine article American Banker

Schlumberger Merges Electronics, Smart Cards

Article excerpt

Schlumberger Ltd. has combined two of its divisions into a new business unit.

The unit, called test and transactions, is made up of the automatic test equipment division, which designs and manufactures semiconductors, and the electronic transactions division, which offers smart cards and related systems.

Both units will retain their names in the new organization, reporting to Irwin Pfister, executive vice president. He has worked 11 years for Schlumberger and was formerly president of automatic test equipment.

Schlumberger said the move is designed to capture synergies between the divisions and to better align them with shared markets. The division will focus on high-end electronics and transaction businesses, the company said. The Moorestown, N.J.-based smart card manufacturer, a division of the French electronics and industrial giant, has not had a significant reorganization since it acquired Danyl Corp. and Malco Inc. more than two years ago.

Benjamin L. Miller, chairman of Cardtech/Securetech Inc. of Bethesda, Md., said the new structure would allow Schlumberger to "take advantage of vertical markets" in an environment that, he said, favors the production of systems over the manufacturing of cards.

Mr. Pfister, Mr. Miller said, "has a lot of experience in the American electronics industry ... where there has been a lot of excitement about the distribution of smart cards."

Mr. Pfister, who has held management positions in the electronics field for 25 years, reports to Euan Baird, chairman of Schlumberger Ltd.

Commenting on synergies between the Schlumberger divisions that comprise test and transactions, James J. …

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