LONDON: The Weir Group announced Friday its binding agreement to acquire Micromine, a leading mining software provider headquartered in Perth, Australia. The deal, valued at £657 million (A$1.31 billion), is expected to close in the second quarter of 2025, subject to regulatory approval.
Micromine, which specializes in digital solutions spanning the mining value chain—from exploration and mine design to operational scheduling—has grown its revenues at an annualized rate of 25% in recent years.
Approximately 90% of its revenue comes from recurring software-as-a-service (SaaS) subscriptions, making it a profitable addition to Weir’s portfolio.
Jon Stanton, CEO of Weir, described the acquisition as a transformative step toward establishing a sector-leading digital optimization platform. “By combining Micromine’s advanced software with Weir’s global network and engineering expertise, we aim to enhance productivity and sustainability across the mining industry,” Stanton said.
The acquisition will complement Weir’s existing aftermarket-focused business model and digital solutions. Initially, Micromine will operate independently under Weir’s ESCO Division, with plans to integrate its technologies into Weir’s MOTION METRICS™ and NEXT intelligent solutions.
Andrew Gray, managing partner at Potentia Capital, which owns Micromine, expressed optimism about the deal. “We believe Weir’s global reach and commitment to innovation make it the perfect home for Micromine,” Gray said.
The transaction is expected to bolster Weir’s revenue and margins, with earnings per share anticipated to grow in the first full year of ownership.