Magseis Fairfield has signed a settlement agreement which discontinues the Seabed Geosolution’s patent litigation

October 25, 2022

(Oslo, 25 October 2022) Since acquiring Fairfield in December 2018, Magseis Fairfield ASA has been involved in a patent lawsuit against Seabed Geosolutions for infringement of four of Magseis Fairfield’s U.S. patents (Nos. RE45 268 (‘268), 9 829 589 (‘589), 8 228 761 (‘761), and 8 879 362 (‘362)).

“The settlement agreement discontinues the lawsuit and ends this lengthy litigation process. Magseis Fairfield will continue to defend and protect its proprietary technology and IP since this provides continued differentiation in the services we provide to our customers” says CEO, Carel Hooijkaas.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Carel Hooijkaas, CEO
Tel: +47 480 49 277
Email: carel.hooijkaas@magseisfairfield.com

Stig Hognestad, CFO
Tel: +47 902 59 040
Email: stig.hognestad@magseisfairfield.com

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Magseis Fairfield is the global leading provider of ocean bottom seismic (OBS) technology and data acquisition projects. The company has a flexible business model with full scale node operations, as well as lease and sale models. The Marine Autonomous Seismic System "MASS" nodes and the range of Z-nodes combined with handling systems and source technology enables market leading deployment speed and highly cost-efficient acquisition of data with exceptional quality.