France-based Technip has entered negotiations with shareholders to acquire all of their shares in Cybernetix, representing 45.7% of the share capital.

Technip received an exclusive commitment from Gilles Michel, its holding Askoad Conseil, Comex and Sercel Holding for the share acquisition.

The transaction is subject to consultation with Cybernetix employee representatives, to be held on 14 November 2011.

Technip will file a takeover bid for all of the remaining Cybernetix shares at the same price of €19 each, which would value the company’s shares at €30.9m.