STAFFORD, TEXAS -February 5, 1998. Input/Output, Inc., (NYSE: I/O) announced today that it has acquired CompuSeis, Inc., of Austin, Texas.
CompuSeis was founded in 1991 and has developed a series of innovative products to enhance land seismic data acquisition systems.
Input/Output’s Chairman, President and Chief Executive Officer, W. J. “Zeke” Zeringue said, “With our commitment to focused product development and value added technology, CompuSeis’s expertise aligns very well with our own engineering competencies. The acquisition of CompuSeis will strengthen and enhance our leading technical position in the land seismic data acquisition market. We are pleased to have these highly skilled system integrators join our company.”
Zeringue said CompuSeis will remain based in Austin, Texas, combined with Input/Output’s product development organization, and report to Input/Output Executive Vice President and Chief Technical Officer Axel M. Sigmar.
Terms of the transaction were not disclosed.
Input/Output is the world’s leading manufacturer of seismic equipment. Forward-looking statements contained in the third paragraph of this release, particularly those relating to product development and technical leadership, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties which may cause actual results to differ from the anticipated results, including risks associated with the timing and development of, and market acceptance of, the Company’s products and services as well as risks of downturns in the oil and gas exploration industry and in economic conditions generally, risks associated with competition and competitive pricing pressures, and other risks detailed in the Company’s filings with the Securities and Exchange Commission, including its latest Forms 10-K and 10-Q.