KUALA LUMPUR, Sept 20 (Bernama) -- Veracio has entered into a binding agreement to acquire pioneers in scanning and data innovators, Minalyze for a total consideration equal to US$29.3 million. (US$1=RM4.69)
According to Veracio in a statement, this strategic acquisition will transform the way the industry captures, analyses, and interprets geological information, ushering in an era of informed decision-making in an increasingly complex and data-driven world.
Veracio Chief Executive Officer, JT Clark said: “We see this as a 'better together' opportunity, leveraging our collective expertise to push boundaries and create a product portfolio that goes beyond anything previously available for the mining and exploration industry.”
The esteemed co-founders of Minalyze, Annelie Lundström and Mikael Arthursson, will assume integral leadership positions within Veracio, while the entire Minalyze team will seamlessly transition under the Veracio banner.
“We believe this acquisition will enable us to enhance what we have accomplished to date, deliver distinct value to our clients and redefine industry benchmarks collaboratively,” said Lundström.
This landmark deal will capitalise on the synergy between Minalyze and Veracio’s scientific and technological progress and prowess.
As Veracio remains steadfast in its mission to evolve data acquisition and artificial intelligence (AI) in geosciences and to unveil vital resources globally with enhanced speed, the transaction is scheduled to be completed on Sept 20.
Veracio offers mining clients a range of solutions that improve, automate, and digitally transform orebody sciences in exploration, resource definition and production.
On the other hand, Minalyze has a long history of developing scanning instruments for core samples and software for the visualisation of geological data.
-- BERNAMA
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