Xcalibur announces the signature of an agreement for the buyout of CGG's Multi-Physics acquisition business.

We are glad to announce that we have entered into a Sale and Purchase Agreement (SPA) with CGG for the buyout of CGG’s Multi-Physics business.

Xcalibur announces acquisition of CGG's Multi-Physics business.

The SPA provides for the buyout of CGG’s entire Multi-Physics business, except its multi-client library, and is subject to approval by the competent regulatory authorities. This transaction is expected to be closed by Q4 of this year.
With this acquisition, Xcalibur Geophysics will consolidate as a leading company in aerogeophysics and natural resources mapping, with worldwide coverage and offices in Spain, South Africa, USA, Canada, Australia, Brazil and Colombia.


About CGG
CGG is a global geoscience technology leader. Employing around 4,600 people worldwide, CGG provides a comprehensive range of data, products, services and equipment that supports the discovery and responsible management of the Earth’s natural resources. CGG is listed on the Euronext Paris SA (ISIN: 0013181864).

References

CGG's announcement.