NYSE-listed CGGVeritas has informed that its subsidiary Sercel has entered into a private transaction to purchase all existing shares in Quest Geo Solutions Limited, a UK-based software company, for an all-cash consideration.
The company officials believe that the acquisition will help to broaden Sercel's product offering and comes as a logical extension to the existing partnership between the two companies, whereby Sercel distributes Quest navigation software such as Triggerfish and Geometis.
In addition, the deal also provides Sercel with increased development and support resources for its navigation software division and its newly released SeaPro Nav product.
CGGVeritas is a leading international pure-play geophysical company delivering a wide range of technologies, services and equipment through Sercel, to its broad base of customers mainly throughout the global oil and gas industry.
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