Australia's micromine acquires Precision Mining
Australia’s MICROMINE, one of the world’s leading privately-owned technology for mining companies, has taken its first step on the acquisition trail signing a deal to purchase Queensland technology company Precision Mining.
The arrangement will give MICROMINE full ownership of Precision Mining, which is best known for its flagship mine scheduling software, Spry.
The acquisition is the first in almost two decades for MICROMINE, which celebrates its 35th anniversary this year. Spry expands and deepens an important segment in the company’s software suite, which covers the entire mining cycle from exploration to production control. MICROMINE products are currently used at 2000 sites in 90 countries.
CEO Andrew Birch, who took over the reins at MICROMINE in 2019, after private equity firm Potentia Capital acquired a majority stake, said Spry would continue to operate as a standalone brand but 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,” 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.”
“In the past two years our focus has been on accelerating organic growth and ensuring MICROMINE’s product, distribution and customer service are on point and our product roadmaps and vision are pushing into the next generation of both technology and mining.
“We are now expanding our reach and depth of expertise in a market we know well. This is a very synergistic addition to our business and an important part of our growth strategy.”
The Precision Mining team, led by founders Glen Barnes, Craig Morgan and Zim Chan, will continue working in the business, bringing specialist scheduling and mine production expertise to the MICROMINE stable.
“Joining MICROMINE will give us the experience, resources and global distribution network that are critical and together we will grow the business,” 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.”