Veritas and CGG
Veritas concentrated on high end products with good margins
CGG market share
Merger skills Veritas personnel combined with CGG assets
Unfortunately CGG insisted on thier people at the helm at the expense of losing Veritas skills
That is why this Company is in this mess
The purchase of Fugro Geo Div by CGGVeritas was a disaster in the long term for both sides.
And Fugro Geo Div was once a good division (not much left I'm afraid).
It’s like two cars colliding together, and becoming one compiled piece of junk. It’s a shame because Veritas was once a good company
Left CGG in 2015 after first major round of layoffs .
The root cause of the decline of CGG is shocking , blinkered , decisions by the board and management over many years. , most notably the ridiculous amount of money paid to purchase fugro .
It appears that unless their is a dramatic upturn in current situation then I fear CGG will succumb to filing for bankruptcy
Does CGG still use that useless OTTIS s/ware ??? What a waste of money that was.
Both CGG and Veritas were good companies (I worked for both of them). However, when they merged something went terribly wrong.