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M&A Activity • Jul 4, 2022
1194_iss_2022-07-04_1af3de01-a43d-42f3-a9c3-8acb2fa9a965.pdf
M&A Activity
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Sercel Selected as the Successful Bidder for the Acquisition of ION Software Business
Paris, France – July 4, 2022
CGG announced today that Sercel, its Sensing & Monitoring division, was selected as the successful bidder for the acquisition of ION Geophysical Corporation's ("ION") software business.
Sercel intends to keep all employees associated with this business.
The acquisition is in connection with ION's recently announced U.S. chapter 11 bankruptcy process.
The closing of the transaction is subject to approval by the bankruptcy court and other customary conditions, including regulatory approvals. The acquisition is expected to close in the third or fourth quarter of 2022.
About CGG
CGG (www.cgg.com) is a global technology and HPC leader that provides data, products, services and solutions in Earth science, data science, sensing and monitoring. Our unique portfolio supports our clients in efficiently and responsibly solving complex digital, energy transition, natural resource, environmental, and infrastructure challenges for a more sustainable future. CGG employs around 3,300 people worldwide and is listed on the Euronext Paris SA (ISIN: 0013181864).
Contacts
Group Communications & Investor Relations Christophe Barnini Tel: + 33 1 64 47 38 11 E-Mail: [email protected]