Weir has signed a £657m deal to acquire specialist mining technology company, Micromine.
Micromine is based in Perth, Australia and provides software to the global mining industry, with revenues of around £68m.
“The acquisition of Micromine is a significant step in our strategy of investing in technology to accelerate smart, efficient and sustainable mining,” explained Jon Stanton, Chief Executive Officer of Weir.
“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. This acquisition provides a compelling opportunity for strong value creation in the immediate and longer term.”
Listed Glasgow group, Weir, is one of the world’s biggest engineering businesses, with 12,000 staff across 50 countries and a presence in every major mining region in the world.
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Stanton added:
“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.”
Micromine 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 will pay £657m in cash, with the deal expected to close in Q2 2025.
“We are thrilled that Micromine will be joining the Weir family of businesses which we think is the perfect home for the business. 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,” stated Andrew Gray, Managing Partner of Potentia Capital – which invested in Micromine in 2018.
