Thread regarding CGG Veritas layoffs

What’s happening with the multi-physics group sale?

It was announced back in the beginning of August that multi-physics would be sold off to Xcalibur group, since then we’ve heard nothing. Is it still happening?

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Post ID: @OP+18jQy7Ko

10 replies (most recent on top)

The deal was closed and the new group is called Xcalibur Multiphysics.

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Post ID: @3litz+18jQy7Ko

It looks like the Xcalibur Group acquisition of CGG Multi-physics will close on June 30, 2021

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Post ID: @3ctxo+18jQy7Ko

They just added it yesterday. It wasn't there on Sunday when the new website was released.

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Post ID: @Ursr+18jQy7Ko

The Multi-Physics acquisition section is still there under the Geoscience tab. Falcon, Fixed Wing, Helicopter, Grav-Mag - it’s all still there.

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Post ID: @Urfk+18jQy7Ko

What happened to CGG multi-physics airborne section. There is no much information about it in the newly updated website of the company? Did they dissolve it?

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Post ID: @Tkeu+18jQy7Ko

Especially part of a failing company that the failing company decided had no future in the failing company. ( please excuse the overuse of the phrase "failing company" )

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Post ID: @qbdj+18jQy7Ko

"A simple question. Unless there is a bargain to be had, why would anyone buy a part of a failing company?."

Exactly!

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Post ID: @hkxl+18jQy7Ko

A simple question. Unless there is a bargain to be had, why would anyone buy a part of a failing company?.

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Post ID: @dgfe+18jQy7Ko

History could be repeated. Multi-physics was sold to NEOS in 2016 and just on the closing day, December 10, 2016 the deal collapsed.

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Post ID: @pof+18jQy7Ko

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