The transaction is said to be supported by the board of directors of both companies and by more than 34.1% of Spectrum shareholders.
TGS expects to enhance its position as a multi-client geophysical data provider with a 2D and 3D seismic data library covering all main mature and frontier basins world-wide.
Spectrum has built a presence in the South Atlantic and other frontier regions. The combined entity should be well positioned to accelerate 3D seismic investment plans in an improving market, TGS said, and the combined libraries will have a scale that can help accelerate TGS’ data analytics strategy.
