Viridien launches new brand to accelerate growth as an advanced technology company

Rhea-AI Summary

Viridien, formerly CGG, unveiled its new brand at the 2024 EAGE Annual Conference in Oslo. This change represents the next phase in its strategic growth as an Advanced Technology, Digital, and Earth Data company. Since 2018, Viridien has divested its data acquisition activities to focus on Geoscience, Earth Data, and Sensing & Monitoring. The company is also expanding into Low-Carbon markets such as Minerals & Mining and Carbon Storage, as well as High-Performance Computing and Infrastructure Monitoring. The new name reflects the company's heritage and future growth aspirations, emphasizing its commitment to sustainability and innovative solutions for complex natural resource, digital, and energy transition challenges.

Positive

• The rebranding to Viridien marks a strategic shift toward advanced technology and digital solutions.
• Divestment from data acquisition activities allows a sharper focus on core businesses including Geoscience, Earth Data, and Sensing & Monitoring.
• Expansion into Low-Carbon markets and High-Performance Computing aligns with global trends towards sustainability.
• New brand heritage emphasizes over 90 years of history and deep roots, enhancing credibility and legacy.

Negative

• Divesting data acquisition activities could lead to short-term revenue losses.
• Transitioning to new markets like Minerals & Mining and Carbon Storage involves risks and uncertainties.
• The rebranding may initially confuse existing clients and stakeholders.

Paris, France – June 10, 2024

Viridien, formerly CGG, today launched its new brand at the 2024 EAGE Annual Conference in Oslo, marking the next stage in its strategic growth as an Advanced Technology, Digital and Earth Data company.

Since this strategy was announced in 2018, the company has divested its data acquisition activities and increased the differentiation in its core businesses of Geoscience, Earth Data and Sensing & Monitoring. New Businesses are also positioned for growth in the Low-Carbon markets of Minerals & Mining and Carbon Storage, as well as in markets beyond energy in High-Performance Computing (HPC) and Infrastructure Monitoring. This portfolio uniquely positions Viridien to support clients in efficiently and responsibly solving their complex natural resource, digital, energy transition and infrastructure challenges for a more prosperous and sustainable future.

The new Viridien brand pays tribute to the company’s history, purpose, and values, while affirming its growth aspirations for the future. With the French spelling, Viridien is formed by two parts. ‘Virid’ is inspired by the Latin ‘Viridis’, meaning ‘fresh, green, drawn from the root’, and ‘ien’ means ‘coming from’. The name acknowledges Viridien’s heritage as a French company created in 1931, along with its rich history, deep roots and core strengths that will drive a new era of growth for the company.

The new Viridien wordmark in blues and greens reinforces the company’s core geoscience expertise and commitment to the planet. The mix of these Earth colors also represents the unique perspectives that Viridien brings, leading to better decisions and outcomes for all stakeholders.

Sophie Zurquiyah, CEO, Viridien, said: “This momentous occasion marks a pivotal moment in our timeline, linking our distinguished 90+ years of history as CGG to our forward-looking trajectory as Viridien. The transformational changes we are seeing across society, driven by increasing energy demand, a growing commitment to take care of our planet, and the accelerating capabilities of our digital era, bring challenges and opportunities that make our technology, data, and expertise more relevant than ever. As Viridien, we are building on our track record of innovation to advance our core business capabilities and accelerate the growth of our new businesses to position our company for continued success for decades to come.”

About Viridien (formerly CGG)

Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,500 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: 0013181864).

Contacts

Investor Relations
Jean-Baptiste Roussille
Tel: + 33 06 14 51 09 88
E-Mail:jean-baptiste.roussille@viridiengroup.com

Attachment

• Viridien launches new brand to accelerate growth as an advanced technology

FAQ

What is the significance of Viridien rebranding from CGG?

The rebranding signifies Viridien's strategic growth as an Advanced Technology, Digital, and Earth Data company, focusing on sustainability and innovative solutions.

When did Viridien launch its new brand?

Viridien launched its new brand on June 10, 2024, at the EAGE Annual Conference in Oslo.

What are the new markets Viridien is expanding into?

Viridien is expanding into Low-Carbon markets, including Minerals & Mining and Carbon Storage, as well as High-Performance Computing and Infrastructure Monitoring.

How does the new brand name 'Viridien' reflect the company's heritage?

The name 'Viridien' combines 'Virid,' inspired by the Latin 'Viridis' meaning 'fresh, green,' and 'ien,' meaning 'coming from,' signifying the company's French roots and rich history.

What core businesses is Viridien focusing on after divesting its data acquisition activities?

Viridien is focusing on Geoscience, Earth Data, and Sensing & Monitoring after divesting its data acquisition activities.