CGG announced that Sercel, its Sensing & Monitoring division, was selected as the successful bidder for the acquisition of ION Geophysical Corporation’s software business.
Sercel intends to keep all employees associated with this business. The acquisition is in connection with ION’s recently announced US chapter 11 bankruptcy process.
The closing of the transaction is subject to approval by the bankruptcy court and other customary conditions, including regulatory approvals. The acquisition is expected to close in the third or fourth quarter of 2022.