Sondex receives offer from GE Energy

The Board of Directors of Sondex plc, a leading supplier of downhole technology to the oil and gas industry, has received an acquisition offer from GE Energy.

GE Energy’s cash offer is £4.60 per share ($9.27 US), or £289 million ($582 million US). The deal must still be voted on by Sondex shareholders and the Board is recommending its approval. Sondex, which has U.S. offices in Houston, Oklahoma City, Okla., and Lafayette, La.; and locations in eight other countries around the world, has more than 500 employees. The Sondex team would remain in place and be part of a new unit within the Optimization and Control business of GE Energy.

Sondex has served the oil and gas industry for more than 30 years, and became a publicly listed company on the London Stock Exchange in June 2003. The company has had a period of sustained growth, both internally and through acquisitions. Sondex has acquired Computer Sonic Systems and Bluestar Tools in Calgary, Canada; Geolink in Aberdeen, Scotland; Applied Electronics in Lafayette, La.; and Ultima Labs in Houston, since going public.

Besides its U.S. and U.K. offices, Sondex has locations in Venezuela, Canada, Russia, the United Arab Emirates, People’s Republic of China, Australia and Malaysia, supplying major oilfield service companies, national oil companies and regional service operators with wireline logging and directional drilling tools and services.