SYDNEY: IMDEX Ltd. (ASX: IMD) has acquired Norway-based Earth Science Analytics AS (ESA), the mining tech firm said Monday, in a deal aimed at accelerating its digital strategy and expanding its AI-powered geoscience capabilities across mineral and energy sectors.
IMDEX will pay A$26 million for an 80.5% equity stake in ESA, with the remaining shares to be acquired after four years via a put and call arrangement. The transaction is expected to close by the end of August.
ESA’s EarthNET platform uses cloud-based AI to process large geological datasets, delivering over 90% faster interpretation cycles and 95% accuracy in rock property predictions, according to IMDEX. The system, currently used by oil and gas majors, will be integrated with IMDEX’s existing digital tools, including Datarock, aiSIRIS and Mineportal.
“This acquisition is a defining step in the acceleration of our digital strategy,” IMDEX CEO Paul House said. “EarthNET is highly scalable and complements our portfolio, materially expanding our digital offering in FY26.”
ESA will continue to operate in the energy sector while helping IMDEX deepen its presence in the mining and infrastructure markets.
The deal will be financed through IMDEX’s existing debt facility, with an expected contribution of A$4 million in revenue and breakeven EBITDA in FY26.