M&A Deal Summary

Geospace Technologies Acquires Petroleum Geo-Services ASA - OptoSeis Fiber Optic Business

On November 13, 2018, Geospace Technologies acquired information technology company Petroleum Geo-Services ASA - OptoSeis Fiber Optic Business from PGS for 25M USD

Acquisition Highlights
  • This is Geospace Technologies’ 1st transaction in the Information Technology sector.
  • This is Geospace Technologies’ largest (disclosed) transaction.
  • This is Geospace Technologies’ 2nd transaction in the United States.
  • This is Geospace Technologies’ 1st transaction in Texas.

M&A Deal Summary
Date 2018-11-13
Target Petroleum Geo-Services ASA - OptoSeis Fiber Optic Business
Sector Information Technology
Buyer(s) Geospace Technologies
Sellers(s) PGS
Deal Type Divestiture
Deal Value 25M USD

Target

Petroleum Geo-Services ASA - OptoSeis Fiber Optic Business

Austin, Texas, United States
Petroleum Geo-Services ASA - OptoSeis Fiber Optic Business provides reservoir monitoring system in the Jubarte field located offshore Brazil and has also been demonstrated as a viable technology for large-scale cabled land seismic data acquisition systems.

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Buyer(S) 1

Buyer

Geospace Technologies

Houston, Texas, United States
Category Company
Founded 1980
Sector Test/Measurement Equipment
Employees681
Revenue 125M USD (2023)
DESCRIPTION

Geospace Technologies designs and manufactures instruments and equipment used by the oil and gas industry to acquire seismic data in order to locate, characterize and monitor hydrocarbon producing reservoirs. Geospace Technologies Corp. also designs and manufactures non-seismic products, including industrial products, offshore cables, thermal printing equipment and film. Geospace Technologies was founded in 1980 and is based in Houston, Texas.

DEAL STATS #
Overall 2 of 3
Sector (Information Technology) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 2 of 3
Year (2018) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 Quantum Technology Sciences

Cocoa Beach, Florida, United States

Quantum Technology Sciences, Inc. is a designer and seller of tactical security and surveillance solutions to safeguard highly valued assets, critical infrastructure, borders and perimeters. Quantum Technology Sciences was founded in 1991 and is based in Cocoa Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Aquana

United States

Aquana is a provider of an Internet of Things (IoT) water management platform that delivers remote shut-off valve control, remote AMI meter reading, as well as leak and burst protection for municipal water utilities, multi-dwelling properties, and commercial buildings. Aquana was founded in 2017 and is based in United States.

Buy $1M

Seller(S) 1

SELLER

PGS

Oslo, Norway
Category Company
Founded 1991
Sector Information Technology
Employees839
Revenue 698M USD (2021)
DESCRIPTION

PGS is a geophysical company providing a broad range of seismic and electromagnetic services, data acquisition, processing, reservoir analysis/interpretation and multi-client library data. PGS was founded in 1991 and is based in Oslo, Norway.

DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-20 MTEM

Edinburgh, United Kingdom

MTEM Ltd is a provider of electromagnetic (EM) services used to detect the presence of hydrocarbons. Company which produces resistivity profiles over prospective reservoirs to identify hydrocarbons before committing to costly drilling programs.

Buy $275M
Mergr

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