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    SeaBird confirms sale of Ocean Bottom Node business

    Company News // November 28, 2011

    SeaBird Exploration PLC (SeaBird) has confirmed that is entered into a share and purchase agreement with Fugro Norway on 18 November 2011.

    Under the agreement, Fugro will acquire SeaBird Technologies and Seabed Navigation Company Limited, which collectively hold all of the company's rights and assets related to the ocean bottom node (OBN) business for the agreed acquisition price of US$125 million, payable in cash.

    SeaBird said the exact date for closing of the transaction "is not defined," but is expected within two to four weeks of the agreement.


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