TGS-NOPEC Geophysical Company ASA ("TGS") has acquired 4C Offshore Ltd, a leading market intelligence and consultancy firm, providing research and insights to the offshore wind industry.
4C Offshore is offering a broad suite of data, analytics and services for the offshore wind industry. With its digital platform, the company provides developers, operators, asset managers, equipment providers and construction companies with key data and insights for the development and operations of offshore wind farms. Among 4C Offshore’s customers are some of the most active players in the offshore wind industry.
4C Offshore provides data on more than 2,000 offshore wind projects. The company has recurring revenue streams from a diversified base of almost 350 clients, serving 2,200 users. In 2020, subscription payments for the company's data services account for almost 80% of revenues.
4C Offshore will become an integral part of TGS’ newly formed New Energy Solutions business unit. With the acquisition of 4C Offshore, TGS expects to be well positioned for the growth underway in the offshore wind segment.
Alpha Corporate Finance has acted as financial advisor to TGS in the transaction.
About TGS: TGS provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions. TGS is listed at Oslo Stock Exchange with a market capitalization of USD 1.8bn.
About 4C Offhore: 4C Offshore is a leading consultancy and market research organization targeting the offshore energy markets. The company has specialized in providing market intelligence for the offshore wind industry and offshore electricity sector as well as consultancy services related to subsea cables.