Sercel Adds Downhold Sensor Firm To Its Coffers

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
22MM
Description

Acquired company providing downhole sensors and gauges for the oil and gas industry.

Sercel, a subsidiary of CGGVeritas, Paris, (NYSE: CGV; Paris: GA) has acquired the assets of Tulsa, Okla.-based Geophysical Research Co. LLC for US$22 million.

Geophysical Research provides downhole sensors and gauges for the oil and gas industry. This acquisition builds on Sercel’s diversification into the well environment and more specifically the artificial lift market. Geophysical Research’s memory gauge business complements Sercel’s existing product offering and geographical coverage.

Geophysical Reseach chief executive Bob Laird says, “This acquisition offers GRC leverage in strengthening and expanding our global presence, operational efficiency and technology offering. GRC’s management team will continue in place with Sercel.”

Sercel president and CEO Pascal Rouiller says, “We look forward to continue to expand and strengthen our footprint in downhole measurements with GRC’s product range.”