22-Aug-2017 Thalassa reaches preliminary agreement on WGP sale and ARL investment
The board of directors of Thalassa (Owner of the WGP Group) has agreed preliminary terms and executed letters of intent with an interested third party for the acquisition of 100% of WGP Group Ltd and subsidiaries, and an investment in Autonomous Robotics Ltd. Also, the Board is pleased to announce that the identity of the interested party has been disclosed and positively cleared with WGP Group Ltd’s clients. The potential purchaser of WGP and investor in Autonomous Robotics Ltd is Fairfield Industries Incorporated (FFN), doing business as Fairfield Nodal, Inc.
Fairfield Nodal is a Huston, Texas based global leader in seismic nodal technology.
Duncan Soukup, Chairman of Thalassa, said:
“FFN’s leading nodal technology, along with WGP’s leading source technology, would create an industry leading integrated acquisition provider in the seismic sector. We also look forward to working with FFN on the continued development of the ARL nodal system.”