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Assets of Center Line Data Corporation acquired by TGS.

TELECOMWORLDWIRE-2 June 2008-Assets of Center Line Data Corporation acquired by TGS(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Substantially all of the assets of Center Line Data Corporation, a privately held Denver-based provider of well log digitising software and services, have been acquired by TGS-NOPEC Geophysical Company (TGS).

The purchase price reportedly included approximately USD5m in cash and 30,600 shares of TGS. The company said that the 36 staff of Center Line will become employees of TGS' Geological Products and Services division. As a result of the transaction, TGS will open a regional office in Denver, USA.

TGS provides the world's largest online well-log database, well data management services, multi-client interpretive products and subsurface consulting services to industry.

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Publication:Telecomworldwire
Date:Jun 2, 2008
Words:133
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