PGS Sells OptoSeis® to Geospace Technologies
(WorldNews Norway)

November 13, 2018: Oslo, Norway, PGS sells the fiber optic permanent reservoir monitoring solution, OptoSeis®, to Geospace Technologies. Terms of the transaction include an initial cash payment at closing of $1.8 million and contingent cash payments of up to an additional $23.2 million over a five-and-a-half year earn-out period. The contingent cash payments will be derived from revenues generated during the earn-out period from products and services utilizing the OptoSeis® fiber optic technology. `After reorganizing during...