Monday, June 2, 2008

TGS Acquires Center Line Data for $5M, Stock

Houston-based seismic imaging software publisher TGS-NOPEC Geophysical Co. announced Monday that it has acquired virtually all the assets of Center Line Data Corp., a privately held developer of well log digitizing software. TGS said the purchase price included some $5 million in cash and 30,600 shares of TGS stock. TGS said it will open a regional office in Center Line's home city of Denver as a result of the acquisition. Center Line's staff of 36 employees, TGS added, will become part of TGS' Geological Products and Services division.