CGGVeritas Announces Acquisition of Fugro's Geoscience Division

CGGVeritas

announced today that it has entered into an agreement with Fugro to acquire Fugro's Geoscience Division, excluding the existing Multi-Client library and nodes businesses. With this transformative agreement, CGGVeritas will become a fully integrated Geoscience company establishing a leading position in the fast growing high-end integrated geology and geophysics and reservoir market. The transaction will also strengthen and extend its existing equipment and acquisition businesses, in particular with the addition of four high-end 3D vessels. The agreement also includes strategic partnerships which will benefit from the leading positions both parties have in their respective markets: