CGG Sells its GeoSoftware Business to Topicus.com and Vela Software
July 30 2021 - 2:00AM
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 OfficerTel: (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 RelationsChristophe BarniniTel: + 33 1 64 47 38 11E-Mail:
christophe.barnini@cgg.com
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