ION commenced the voluntary Chapter 11 process with lender support and DIP financing in April 2022. In September 2022, CGG Sercel, and TGS were successful in their respective bids in the auction process. • CGG's Sercel was selected as the successful bidder for the acquisition of Concept System Ltd.'s software and service business. • TGS acquired certain assets related to ION’s multi-client and processing businesses.