abce certificate
New Articles
Wednesday, 07 January, 2009, 17:50 GMT | more >>

TGS ties up PDS takeover



By Upstream staff 

TGS-Nopec has completed its $72.5 million stock-and-cash deal takeover of US outfit Parallel Data Systems, it said today.

The final consideration included $56.4 million in cash and 608,865 shares of TGS, all of which have restrictions on when they can be sold. No new shares were issued related to the deal.

The PDS deal boosts TGS' existing processing capacity and provides it with a new array of imaging technologies, TGS said.

PDS will continue to provide proprietary imaging services to external customers and play a role in the processing of TGS' own surveys.

TGS expects the PDS acquisition to generate about $15 million in net revenues for contract imaging services between now and the end of the year.


Tuesday, 15 May, 2007, 06:34 GMT  | last updated: Tuesday, 15 May, 2007, 06:34 GMT

e-mail this article to a colleague


to email:  from:
comments: