PEORIA (dpa-AFX) - Tuesday, Caterpillar Inc. (CAT), a manufacturer of construction and mining equipment, announced the acquisition of Skycatch, Inc., a provider of spatial data capture, processing and analysis solutions for the mining industry. The financial details of the deal have not been disclosed.
The company expects Skycatch's technology to help its customers by capturing high-frequency, high-precision, large-scale spatial data and using AI capabilities that identify, measure and interact with the data to deliver improved operational performance.
'By integrating near-real-time, high-resolution spatial data into both RPM and MineStar solutions, we can help customers improve mine site performance by enhancing safety, productivity and predictability across their operations using both staffed and autonomous fleets,' said Denise Johnson, group president, Caterpillar Resource Industries.
In the pre-market hours, CAT is trading at $950.00, down 2.05 percent on the New York Stock Exchange.
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