Weir to acquire Micromine for $830m to expand mining software solutions portfolio
Summary
UK-based engineering company Weir has entered a binding agreement to acquire Micromine, a global mining software provider based in Australia, for an enterprise value of £657m ($830.75m). Over time, Weir intends to integrate Micromine with its MOTION METRICS and NEXT intelligent solutions, forming a unified digital optimisation platform. Stanton said: “The acquisition of Micromine is a significant step in our strategy of investing in technology to accelerate smart, efficient and sustainable mining. The combined force of Micromine and Weir will create a sector-leading, globally scaled platform to optimise performance across the mining process. The tool utilises “advanced” neural networks to effectively develop “robust” geological and grade models, facilitating more assured exploration choices and resource assessments.
Classifications
AskAI Classifications
LabelsLinked Companies
