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    CGG   FR0013181864

CGG

(CGG)
  Report
Real-time Quote. Real-time Euronext Paris - 09/23 11:29:50 am
0.6284 EUR   -0.25%
09/15CGG : Présentation Septembre 2021
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09/15CGG : September 2021 Presentation
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

CGG: CGG Sells its GeoSoftware Business to Topicus.com and Vela Software

07/30/2021 | 02:00am EDT

Joint Press Release

CGG Sells its GeoSoftware Business
to Topicus.com and Vela Software

July 30, 2021

CGG S.A. (“CGG”) and Topicus.com Inc. (“Topicus”) (TSXV: TOI) announced today that CGG has entered into an agreement with Topicus and Vela Software (“Vela”),  for the sale of CGG’s GeoSoftware business (“GeoSoftware” or the “Company”).  The closing of this transaction remains subject to mutually agreed closing conditions.

Being a perpetual owner of businesses, Topicus and Vela look forward to maintaining the standard of excellence that CGG has instilled in the Company’s solutions," said Gabor Czegledy, CEO of Vela’s Energy Portfolio and Han Knooren, Group CEO of the TSS operating group within Topicus. "We are excited to welcome GeoSoftware and its employees, for the long term, into our portfolio. The GeoSoftware business will be owned jointly by Topicus and Vela, with Topicus owning 60% and Vela 40%”.

Sophie Zurquiyah, CEO, CGG, said: GeoSoftware has a leading position in its market niche. We believe that Topicus and Vela, being software focused companies with a permanent hold philosophy, will be a great home for the business and its employees.  We expect that together they will further invest and develop the GeoSoftware product suite, allowing the Company to grow its offerings and continue its success”. 

About Vela Software

Vela is a global provider of software solutions to a number of vertical industries with broad and deep market knowledge in the Energy and Resources software. As an operating group of Constellation Software Inc., Vela acquires, manages, and builds industry specific software businesses which provide specialized, mission-critical software solutions. Vela’s goal is for its companies to become leaders in their respective verticals by investing in their operations, growing through organic initiatives, and by seeking acquisitions that can strengthen their market position.

About Topicus.com

Topicus.com Inc. is a leading pan-European provider of vertical market software and vertical market platforms to clients in public and private sector markets. Operating and investing in countries and markets across Europe with long-term growth potential, Topicus.com Inc. acquires, builds and manages leading software companies providing specialized, mission-critical and high-impact software solutions that address the particular needs of customers.

For further information, contact:
Topicus.com Inc.
Jamal Baksh, Chief Financial Officer
Tel: (416) 861-9677


About CGG

CGG (www.cgg.com) is a global geoscience technology leader. Employing around 3,700 people worldwide, CGG provides a comprehensive range of data, products, services, and solutions that support our clients to more efficiently and responsibly solve complex natural resource, environmental and infrastructure challenges. CGG is listed on the Euronext Paris SA (ISIN: 0013181864). 

For further information, contact:
Group Communications & Investor Relations
Christophe Barnini
Tel: + 33 1 64 47 38 11
christophe.barnini@cgg.com  

Attachment

  • CGG - Press Release pdf version

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Source: CGG

2021 GlobeNewswire, Inc., source Press Releases

All news about CGG
09/15CGG : Présentation Septembre 2021
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More news
Analyst Recommendations on CGG
More recommendations
Financials (USD)
Sales 2021 947 M - -
Net income 2021 -136 M - -
Net Debt 2021 1 001 M - -
P/E ratio 2021 -3,70x
Yield 2021 -
Capitalization 524 M 526 M -
EV / Sales 2021 1,61x
EV / Sales 2022 1,40x
Nbr of Employees 3 700
Free-Float 99,9%
Chart CGG
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Technical analysis trends CGG
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TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 0,74 $
Average target price 1,39 $
Spread / Average Target 88,2%
EPS Revisions
Managers and Directors
Sophie Zurquiyah-Rousset Chief Executive Officer & Director
Yuri Baidoukov Group Chief Financial Officer & Treasurer
Philippe Salle Chairman
Chu Ong Ting Chief Technology Officer
Michael C. Daly Independent Director
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