LONDON (dpa-AFX) - The Weir Group (WEIR.L) Wednesday announced it has finalized its £624 million or $840 million all-cash acquisition of Australian mining software company Micromine, a move aimed at strengthening its digital mining solutions.
Announced in February, the deal supports Weir's strategic expansion in the mining technology space.
Micromine, known for its comprehensive software covering exploration to operations in various mining conditions, will complement Weir's existing digital tools. The company plans to integrate Micromine with its current technologies, including MOTION METRICS and NEXT, to offer an advanced digital platform across the mining value chain.
Weir CEO Jon Stanton stated that Micromine aligns naturally with Weir's business and growth ambitions, emphasizing the combined potential to enhance customer performance through digital optimization.
Kristen Walsh will head the expanded digital solutions division, while Micromine's CEO Andrew Birch will remain in an advisory role for up to 12 months. The acquisition is expected to contribute around 25 basis points to Weir's operating margin in 2025, with £16 million earmarked for one-time integration and acquisition costs.
Wednesday WEIR.L closed at $2,248 or 0.36% higher on the LSE.
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