Analysts expected Schlumberger Ltd.’s (SLB) $14.8 billion acquisition of Cameron International Corp. (CAM) to spur oilfield service M&A activity, and so far it has─by Schlumberger and Cameron.

On Sept. 2, Schlumberger said it purchased Novatek Inc. and Novatek IP LLC, companies founded by H. Tracy Hall. Hall is the scientist who invented the first reproducible process of creating man-made diamonds. In Hall’s 2008 obituary, the Los Angeles Times wrote that Hall’s achievement was considered “on a par with converting lead into gold.”

The U.S.-based companies specialize in synthetic diamond technology primarily for the oil and gas industry. The company, founded in 1955, has won 637 patents for various drilling equipment.