Weir to acquire Micromine

Weir is accelerating its strategy for sustainable digital mining after entering a binding agreement to acquire Mining Software Holdings (Micromine) for $1.3b (£657m).

Micromine is a top-tier global software provider to the mining industry, with comprehensive solutions across the upstream mining value chain. It supports critical mining operations from exploration through mine design and planning, operational scheduling and mining operations in hard ore, soft ore and underground applications.

Weir chief executive Jon Stanton says the combined force of Micromine and Weir will create a sector-leading globally scaled platform to optimise performance across the mining process.

“In Micromine, we are adding an established, high-quality business and proven performer that is complementary to Weir’s aftermarket-focused business model and current digital solutions,” he said.

“This acquisition provides a compelling opportunity for strong value creation in the immediate and longer term.

“The Micromine team are experts in their field and share Weir’s innovative mindset and customer focus. We look forward to welcoming them to Weir and working with them to provide customers with unparalleled technology and insights to enhance their operations.

“Today is an important and exciting day. Combining Weir’s engineering technology expertise and customer networks with Micromine’s leading software solutions and diversified customer base will allow us to further harness digital technology to drive productivity and sustainability for the global mining industry.”

Weir potential capital managing partner Andrew Gray comments on the acquisition.

“We are thrilled that Micromine will be joining the Weir family of businesses which we think is the perfect home for the business,” he said.

“I feel the addition of Micromine’s solutions, in particular its suite of AI offerings, will allow Weir’s customers to rapidly capitalise on their digital futures.”

Under Weir’s ownership, Micromine will leverage the company’s global direct distribution channels in mining to further accelerate its growth.