This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CGG And Vialogy Announce Business And Technical Collaboration Agreement

Vialogy PLC, April 29, 2013 /PRNewswire/ --

ViaLogy (AIM: VIY) announces today that it has signed a Business and Technical Collaboration Agreement with CGG (NYSE: CGG) (Euronext: CGG: PA)  http://www.cgg.com  of France, one of the world's largest geosciences companies.  It provides ViaLogy with global sales and services locations, access to CGG customers, assistance in scaling ViaLogy's QuantumRD technology to large geographical areas, and specialized high tech data processing to prepare seismic datasets for QuantumRD.  Support in the form of CGG personnel, facilities, past project experience, and assistance with tender submissions are also part of the arrangement. In exchange, CGG will receive reimbursement for services, and will be able to monitor and exploit the QuantumRD technology for its own business and technical purposes, and collaborate on an exclusive basis with ViaLogy technologists.

The signing of the agreement comes after several months of consultation between the two companies and the completion of a demonstration exercise for QuantumRD. The ViaLogy and CGG technical teams worked closely together on the project.

Under the terms CGG has agreed to assist in facilitating ViaLogy's business growth and scalability in the oil and gas exploration industry by providing technical advice and introductions to selected worldwide clients.  A joint objective will be to deliver high quality analysis results on large development projects, thus mitigating execution risk for customers. Ideally, CGG will process all data for ViaLogy analysis, ensuring the highest data quality, retention of data characteristics important for QuantumRD, and leading to repeat business for both parties.

Ownership of the intellectual property related to QuantumRD will remain the property of ViaLogy.  Any joint development products that may arise from the collaboration will also be owned by ViaLogy and can be used under royalty-free licence by CGG.

"The signing of this agreement is a ground-breaking development for ViaLogy, "said Robert W. Dean, CEO of the Pasadena-based company. "It gives us the global reach we need to deploy our technology, keep sensitive seismic data in-country where necessary for QuantumRD analysis in non-US locations, and work with the most experienced geophysical staff in the world to develop the technology further in operational settings. It is a win-win for both companies. We hope to benefit CGG by winning QuantumRD commercial contracts that will create new business opportunities for them."

"Our relationship with CGG   enables us to bid on large projects for international customers around the world and we will look to expand our highly qualified workforce to cope with what we anticipate will be a large increase in commercial work."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,076.34 +132.53 0.78%
S&P 500 1,977.66 +10.09 0.51%
NASDAQ 4,438.5820 +23.0920 0.52%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs