Sercel Acquires 20% Stake in Cybernetix

As part of Cybernetix’s management effort to balance its industrial shareholding structure, Sercel has acquired shares of Cybernetix held by Comex and its management. Cybernetix’s share capital is now distributed between its chairman and CEO Gilles Michel (18.5%), Comex (20.4%), Sercel (20%), the Truffle Ventures fund (18.1%), and the float (23%). The transaction gives Sercel a seat on Cybernetix’s board.

Through this investment, Sercel intends to reinforce the technical partnership established with Cybernetix in offshore oil equipment, which is one of the key areas for expansion of the Marseilles-based company.

“With this transaction Cybernetix benefits from a more stable shareholders base further to its restructuring and will be able to reinforce its presence in the offshore market through its alliance with a leading company in the oil and gas sector,” said Gilles Michel, chairman and CEO of Cybernetix.

Sercel, a subsidiary of Compagnie Générale de Géophysique (CGG), is a leader in geophysical equipment used for oil and gas exploration--both offshore and onshore.

Cybernetix specializes in innovative solutions in robotics and automated machines designed to work in hostile environments such as nuclear, oil services, and other industries.