Feds Clear TGS-PDS Merger



TGS-Nopec Geophysical Co. has received clearance from the US Federal Trade Commission allowing TGS to proceed with its acquisition of Parallel Data Systems, Inc. ("PDS").

As TGS notified the Oslo Stock Exchange on April 2, the transaction has been approved by the boards of both companies. Final closing of the transaction is expected to occur next week.

TGS-Nopec Geophysical Co. is a leading global provider of multi-client geoscientific data, associated products and services to the oil and gas industry. TGS specializes in the creation of non-exclusive seismic surveys worldwide. The company also provides advanced depth imaging solutions and software through its TGS Imaging division. A2D Technologies, a wholly-owned subsidiary, is the energy industry's well log data marketplace offering the largest online database, immediate delivery, conversion services, data management services and worldwide well log data sourcing. The TGS family of companies places a strong emphasis on providing high-quality data and the highest level of service to the industry.

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