TGS completed the acquisition of the E&P Technology and Services business of ION Geophysical.

TGS, a provider of scientific data and intelligence to companies active in the energy sector, completed the acquisition of the E&P Technology and Services business of ION Geophysical, a provider of acquisition equipment, software, planning and seismic processing services, and seismic data libraries to the global oil & gas industry. Financial terms were not disclosed. "We are very pleased about closing the ION acquisition announced on 1 July. While we are excited about taking over another quality data library, particularly in the South Atlantic, we are equally pleased to add strong capabilities to our processing business in terms of software, hardware, imaging technologies and people. This marks another important step to consolidating the geophysical industry in line with our strategy to create a stronger and more viable business offering. We are looking forward to a successful integration," Kristian Johansen, TGS CEO.