Aspen Technology, Inc. (AspenTech) has entered into a definitive agreement to acquire Micromine – a global leader in design and operations management solutions for the mining industry – from private equity firm Potentia Capital and other vendors for AUS$900 million in cash (approximately US$623 million).
The transaction complements AspenTech’s existing asset optimization solutions and positions the company in a leadership role to deliver the ‘digital mine of the future’, supporting excellence in operations with a focus on safety, sustainability, reliability and efficiency . In addition, AspenTech is now well positioned to help mining customers meet the twin challenges of meeting the demands of a growing population with increasing living standards, while meeting sustainability goals. AspenTech’s innovation and unique expertise in digitally transforming the chemical and oil and gas industries will be critical to the mining industry as it embarks on rapid digitization.
Micromine participates in the Smart Mining Market, a global market that will reach approximately US$11.5 billion by 2022. Based on Micromine’s technology, their relevant global segments of the total Smart Mining market amount to US$5.3 billion and include Data Management and Analytics, Smart Asset Management and other solutions. Micromine provides mission-critical solutions for more than 800 blue-chip customers in all mining activities and commodities with a focus on various metals essential to the energy transition (such as: lithium, cobalt and nickel), base metals (such as: copper and iron ore), and precious metals (such as: gold).
Antonio Pietri, President and CEO, AspenTech, notes:
“Digitalization is critical for the metals and mining industries to become sustainably healthy and operationally excellent for generations to come. Micromine’s comprehensive solutions span the breadth of the mining cycle, from geological exploration and data management to resource estimation, mine design, planning, scheduling and production control.
“As stated when we announced the transaction with Emerson, AspenTech has been given additional flexibility to leverage strategic capital for growth. Combining AspenTech’s product portfolio and global reach with Micromine’s mission-critical technology and leadership in the mining industry, customers will receive a comprehensive offering and the end-to-end ability to drive efficiencies across the entire mining value chain, while helped to meet the dual challenge.
Andrew Birch, CEO, Micromine, notes:
“Most mining organizations are in the nascent phase of digitization. Accelerating their digital initiatives through a comprehensive suite of software applications and AspenTech’s expertise is a unique opportunity for our customers. Our vision has always been to create an ecosystem that connects experts in the exploration and mining value chain, using both new and existing technologies to deliver better results for our clients.
“Micromine solutions perfectly complement AspenTech solutions with the resulting capabilities of the entire combined business that are greater than the sum of its parts. Joining forces with AspenTech further reinforces this vision and will be key to delivering the next generation of efficiencies in the mining sector.”
Micromine is expected to contribute to AspenTech on a free cash flow basis within the first 12 months of the closing of the transaction.
Read the article online at: https://www.globalminingreview.com/mining/10082022/aspentech-expands-software-portfolio-with-micromine-purchase/
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