Printer Friendly

Compagnie Generale De Geophysique Completes Acquisition of Geoscience Corporation.

PARIS--(BUSINESS WIRE)--Dec. 13, 1999--

Compagnie Generale de Geophysique (Paris RM: 12016) (NYSE:GGY - NEWS) announced today that, through Sercel Acquisition Corp., renamed Syntron Corporation, a wholly-owned subsidiary of Sercel, Inc., it had completed its $6.71 per share cash tender offer for the outstanding common shares of GeoScience Corporation (NASDAQ:GSCI - NEWS). Sercel has accepted for payment 9,414,263, or approximately 94.3% of the outstanding GeoScience shares.

The tender offer was made pursuant to a merger agreement between CGG and GeoScience Corporation. Under the merger agreement, the remaining GeoScience shares will be converted in a merger into the right to receive the $6.71 per share cash amount paid in the tender offer. Sercel intends to complete the merger of GeoScience into a Sercel subsidiary today.

GeoScience Corporation, based in Houston, Singapore and the United Kingdom, employs 360 people, and is, through its subsidiary Syntron, Inc., a leader in the area of marine seismic data acquisition equipment (in both surface and seabed environments).

Based in Nantes (France), Sercel S.A. is present in the United States through Sercel, Inc. (Houston), which is one of the leading manufacturers of land seismic data acquisition equipment. As a result of the merger, Sercel will be the direct parent of GeoScience. The union of Sercel and GeoScience-Syntron, owing to the complementary nature of their products, makes the combined company one of the world's largest producers of seismic equipment, with a complete range of state-of-the-art products.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Dec 13, 1999
Previous Article:SilverStream Software to Acquire ObjectEra.
Next Article:VerticalNet and ZillaCast Team Up to Provide Webcasting and Streaming Video Services to Business-to-Business Communities.

Related Articles
Repeating DNA surprises once again.
Patent News.
TUNISIA - The Joint Tunisian-Libyan Block.
Patent News.
TUNISIA - The joint Tunisian-Libyan Block.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters