Perth-based MICROMINE is set to complete its first acquisition in almost two decades, with the purchase of fellow software company Precision Mining.
Perth-based MICROMINE is set to complete its first acquisition in almost two decades, with the purchase of fellow software company Precision Mining.
Queensland’s Precision is best known for its mine scheduling software, Spry.
MICROMINE alleges the technology “expands and deepens” an important segment in the company’s software suite, covering the entire mining cycle from exploration to production control.
Its products also include Geobank and Pitram, which MICROMINE says are used at 2,000 mine sites across 90 countries.
Chief executive Andrew Birch said MICROMINE would continue to operate Spry as a standalone branch.
He said technology would also be closely integrated with the MICROMINE suite.
“Precision Mining really stood out, not just for the quality of its software but also for the team’s experience and reputation as consultants in mine scheduling and haulage,” Mr Birch said.
“We looked worldwide for a company that was best in class and had the potential to scale globally.
“Finding an Australian company like Precision that is building innovative technology solutions suitable for the global mining market made the acquisition really attractive.”
Mr Birch was appointed as chief executive of MICROMINE in 2019, when Sydney-based private equity firm Potentia Capital acquired a majority stake in the business.
He said MICROMINE has been focused on accelerating organic growth in the past two years.
“We are now expanding our reach and depth of expertise in a market we know well,” he said.
“This is a very synergistic addition to our business and an important part of our growth strategy.”
Precision founders Glen Barnes, Craig Morgan, and Zim Chan will continue working for the business under the MICROMINE banner.
“Joining MICROMINE will give us the experience, resources and global distribution network that are critical and together we will grow the business,” Mr Barnes said.
“The company has been growing quickly since 2007, and we reached the point where we need the expertise and support of a global business like MICROMINE to take it to the next level.”
