"The ongoing transformation of the company forced us to revisit our corporate identity," said Bob Peebler, President and CEO of ION. "As proud as we are of our heritage in developing innovative geophysical instruments, we have moved beyond our roots in seismic equipment. Following the acquisitions of Concept Systems and GX Technology, I/O added significant capabilities in both data management software and advanced imaging services. The people and the core technologies of these acquired companies have enabled us to develop revolutionary seismic solutions such as FireFly®, our integrated ecosystem of hardware, software, and data processing services for cableless land seismic imaging. We expect to develop additional innovative solutions in the years ahead as we build the leading seismic imaging company of the 21st century. Our company's lines of business and our vision for the future have simply outgrown the Input/Output name."
The company will remain incorporated in the state of Delaware and continue to trade under the ticker symbol 'IO' on the New York Stock Exchange. The company's web site can now be accessed at http://www.iongeo.com.
"The name ION was chosen because it represents a simple transition from I/O," stated Chris Friedemann, Senior Vice President of Corporate Marketing for ION. "The addition of the 'N' conveys 'I/O Now' as well as 'I/O Next,' reflecting both our offerings of today and our innovations of tomorrow. An ion is an atom that has gained or lost electrons and, as a result, is both energized and in a state of flux. ION symbolizes our corporate growth history and the capabilities we have gained through acquisition. At another level, the dynamic nature of the ion reflects our restless passion for developing state-of-the-art products, services, and solutions that are tailored to the unique requirements of each customer we serve and project we undertake."
The brand transition will be supported through an integrated promotional campaign that includes print, on-line, and multimedia initiatives. ION has adopted a new tagline -- Charged with Innovation(TM) -- to reflect the company's tradition of developing revolutionary geophysical products and services such as VectorSeis®, FireFly, DigiFIN(TM), and the reverse time migration (RTM) imaging technique.
ION is a leading provider of geophysical technology, services, and solutions for the global oil & gas industry. ION's offerings allow E&P operators to obtain higher resolution images of the subsurface to reduce the risk of exploration and reservoir development, and enable seismic contractors to acquire geophysical data more efficiently.
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