CMG Announces the Acquisition of Sharp Reflections GmbH

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CMG Announces the Acquisition of Sharp Reflections GmbH - GlobeNewswire

Quick Summary:

Significantly expanding seismic processing and interpretation capabilities with advanced solutions in prestack and 4D seismic analysisCALGARY, Alberta, Nov.12, 2024 (GLOBE NEWSWIRE) -- Computer Modelling Group Ltd.("CMG” or the "Company”) (TSX: CMG) is pleased to announce the acquisition by a wholly-owned subsidiary of CMG of all of the shares of Sharp Reflections GmbH ("Sharp”), a seismic processing and interpretation platform for geophysicists and quantitative interpreters.

For more information on Sharp Reflections, visit the website.1 Revenue and Adjusted EBITDA Margin are unaudited for the period August 1, 2023 – July 31, 2024 and are not reported in accordance with International Financial Reporting Standards (IFRS).

Adjusted EBITDA Margin refers to net income before adjusting for depreciation and amortization expense, interest income, income and other taxes, stock-based compensation, restructuring charges, foreign exchange gains and losses, repayment of lease obligations, asset impairments, acquisition related costs and other expenses directly related to business combinations, including compensation expenses and gains or losses on contingent consideration.