PARIS, Oct. 26 /PRNewswire/ -- Compagnie Generale de Geophysique (Paris RM:
12016) (NYSE: GGY - NEWS) today announced the signature of a definitive agreement concerning the
acquisition of all GeoScience Corporation shares (Nasdaq: GSCI - NEWS), 80% of which are owned by Tech-
Sym Corporation (NYSE:
TSY - NEWS). Tech-Sym signed a definitive agreement with a commitment to tender all such shares into the
tender offer related to the merger of GeoScience and Sercel (100% owned by CGG). According to the terms of
the agreement, CGG will offer 6.71 US$ for each GeoScience share, for a total transaction value of 67 MUS$.
GeoScience Corporation, based in Houston, Singapore and the United Kingdom, employs 360 people, and is,
through its subsidiary Syntron, a leader in the area of marine seismic data acquisition equipment (in both surface
and seabed environments).
Based in Nantes (France), and present in the United States through its subsidiary Sercel Inc (Houston), Sercel is
one of the leading manufacturers of land seismic data acquisition equipment.
Sercel and GeoScience-Syntron, owing to the complementary nature of their products, will be one of the world's
largest producers of seismic measurement equipment, with a complete range of state-of-the-art products.
The company resulting from this merger will be headed by Thierry Le Roux, presently President of Sercel.
The acquisition of GeoScience shares by the CGG Group will be funded by The Beacon Group Energy
Investment Fund II, L.P, a 945 MUS$ private investment fund based in New York which will subscribe to a
private capital increase of CGG which will occur after the public offering due to take place in November, as
announced by CGG on September 9, 1999.
The Beacon Group Energy Investment Fund II, L.P. is an affiliate of The Beacon Group LLC, a private
investment and advisory partnership founded in 1993. With over 2 billion US dollars under management, The
Beacon Group LLC, is a leader in private equity and str