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Dolphin Reaches Agreement to Purchase Quantum GeoServices

Source: www.gulfoilandgas.com 7/30/2013, Location: Europe

Dolphin Geophysical ("Dolphin") is pleased to announce that it has reached exclusive agreement to purchase Quantum GeoServices (Asia Pacific) Pte Ltd ("Quantum"). The agreement is subject to due diligence and is expected to be completed in early August. Based in Singapore, Quantum provides seismic data processing services including multi-component, Multi-Client products and training for data processing within the Asia Pacific region.

Atle Jacobsen, Dolphin's CEO, said, 'The purchase of Quantum marks a significant step in becoming a global company. It provides us with a permanent presence within the Asia Pacific market and demonstrates our commitment to the region. Quantum will assist us greatly in marketing all of our services.'

Sami Khan, CEO of Quantum, will become Vice President Asia Pacific, Acquisition and Processing for Dolphin. Mr. Khan said, "This is an exciting step for Quantum. Becoming part of a fast growing, full service, marine seismic company provides us with the strength and opportunity to accelerate our development. In particular, our staff will benefit from enhanced career opportunities.'

Gareth Williams, Chief Geophysicist of Dolphin said, "Quantum have previously licensed our OpenCPS software for marine seismic data processing, so we expect the integration of their processing capabilities to proceed smoothly. We are very enthusiastic about the opportunity to increase our capacity to provide processing services and support our vessels across the globe."

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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