ASPENTECH EXPANDS PORTFOLIO OF INTEGRATED SOFTWARE SOLUTIONS FOR THE MINING INDUSTRY THROUGH AGREEMENT TO ACQUIRE MICROMINE
AspenTech acquires Micromine, a world leader in operational software solutions for the mining industry.
- The company will acquire a comprehensive software application package for geological exploration, modeling, design, planning and mine management
- Micromine software is essential to the mining industry in its quest to meet the dual challenge of increasing the supply of metals needed for a reliable energy transition in the future, and at the same time supporting the implementation of strategic goals for the sustainable development of the industry
- The deal amount is 900 million Australian dollars (about 623 million US dollars)
On July 27, 2022, BEDFORD, commonwealth of Massachusetts, Aspen Technology, Inc. (NASDAQ:AZPN) (“AspenTech” or the “Company”), a global leader in industrial software, today announced that it has entered into a definitive agreement to acquire Micromine, a global leader in engineering and operational management solutions for the mining industry, from Potentia Capital, equity investment company, and other sellers for 900 million Australian dollars in cash (approximately 623 million US dollars).
The deal complements AspenTech’s existing asset optimization solutions and positions the company as a leader in creating the “Digital Mine of the Future” that supports the improvement of manufacturing operations, with a focus on safety, sustainability, reliability and efficiency. In addition, AspenTech is uniquely positioned to help mining customers meet the associated challenges of meeting the needs of a growing population with rising living standards while meeting their sustainable development goals. AspenTech’s innovations and unique expertise in the digital transformation of the chemical and oil and gas industries will be critical for the mining industry as it begins its rapid digital transformation.
Micromine is a participant of the Smart Mining Market, a global market, which in 2022 will be approximately 11.5 billion US dollars. Taking into account Micromine technologies, the corresponding global segments of the total Smart Mining Market of this company are 5.3 billion US dollars and cover data management and analytics, smart asset management and other solutions. With 35 years of successful work and 280 employees in 22 locations worldwide, Micromine provides critically needed solutions to over 800 major customers across all mining and raw materials sectors, focusing on the metals needed for the “energy transition” such as such as lithium, cobalt and nickel, as well as non-ferrous metals such as copper and iron ore and precious metals such as gold.
“Digitalization is critical for the steel and mining industry to become sustainable and technologically advanced for future generations. Micromine’s complex solutions cover the entire mining life cycle from exploration and data management to reserve estimation, mine design, planning, reporting and production control”, says Antonio Pietri, President and CEO of AspenTech. “As we noted, by announcing the deal with Emerson, AspenTech has been given even greater flexibility in the strategic use of capital for future growth. Combining the AspenTech product portfolio with Micromine’s critically needed technologies introduced around the world, based on their leadership position in the mining sector, will provide customers with a complete package of solutions and the ability to increase efficiency throughout the entire mining value chain, helping them solve related tasks".
“Most companies in the mining sector are at the initial stage of digitalization. Accelerating their pace of digitalization with AspenTech’s comprehensive software application package and expertise is a unique opportunity for our customers. Our goal has always been to create an ecosystem that brings together experts across the entire value chain from geological exploration to mining minerals and their distribution to ensure that our customers achieve the best results”, says Andrew Burch, General Director of Micromine. “Micromine’s technologies complement AspenTech’s solutions perfectly, and the possibilities of such a combination far exceed the effectiveness of the work of these companies separately. The combined resources of Micromine and AspenTech will be the foundation for the next generation of high productivity in the mining sector”.
Micromine is expected to increase AspenTech free cash flow growth within the first 12 months of closing the deal.
Hurry up to schedule a meeting with the company at the Mining & Metals Central Asia exhibition.
You can visit the exposition of the enterprise on September 20 - 22, Atakent Kazakhstan Center for Business Cooperation, Almaty.
Get a ticket by following the link.
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