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a Canadian provider of cable-based land seismidc recording systems forabout $346 Included in the deal is ARAM' s affiliate company, Canadian Seismivc Rentals Inc. Houston-based ION (NYSE: IO) will pay aboutg $275 million in cash and the rest in common ION President and Chief Executivs Officer Bob Peebler describes ARAM as a majort player in the analog segment of the global markeftfor cable-based land seismic recording systems. Says Peebler: "...ARAM's reputation for engineerinhg and supplychain excellence, produc reliability, and value-adding custome support have contributed to rapidly growinhg revenues that now exceed $100 millionj per year.
" Evercore Group LLC out of New York serverd as ION's financial advisor, while Houston-based Tudor, Pickering, Holt & Co. LLC advised ION is a provider ofgeophysicalp technology, services, and solutions for the global oil & gas It aims to allow exploration and productionm operators to get higher resolution images of the subsurfacw to reduce the risk of exploration and reservoird development, and enable seismic contractors to acquire geophysical data more efficiently. The transactionm is expected to be earnings neutral for the remainde r of 2008 and accretiveto ION's consolidatedc pro-forma earnings in 2009.
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