| CGG Veritas, formerly Compagnie Generale de Geophysique-Veritas, is a provider of geophysical services and manufacturer of geophysical equipment. The Company provides geophysical services principally to oil and gas companies that use seismic imaging to help explore for, develop and manage oil and gas reserves. Its operations are organized into two segments: Services and Equipment. Services accounted for approximately 71% and Equipment accounted for approximately 29% of the Company's consolidated revenues for the year ended December 31, 2007. In 2007, approximately 30.9% of the Company's consolidated revenues were from the North America, 10.3% from South America, 32.3% from Europe, Africa, Middle East and 26.5% from Asia Pacific. On January 12, 2007, CGG acquired Veritas DGC (the merger) pursuant to an agreement and plan of merger dated September 4, 2006 (the merger agreement). |
