CGG: towards an acquisition of the software division of ION

( – CGG announces that Sercel, its sensing & monitoring division, has been awarded the contract for the acquisition of ION Geophysical Corporation’s software division, an activity of which Sercel intends to retain all employees.

The award was made in connection with ION’s recent announcement of its filing for Chapter 11 bankruptcy protection. The acquisition is expected to close in the third or fourth quarter of 2022.

“The closing of the transaction is subject to the approval by the competent bankruptcy court and to other usual conditions which include certain regulatory approvals”, specifies the group of geosciences.

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