Weir has entered into a binding agreement to acquire Mining Software Holdings (Micromine), a company based in Perth, Western Australia, for a sterling equivalent enterprise value of £657 million ($1.3 billion).
Micromine is a top-tier global software provider to the mining industry, with comprehensive solutions across the upstream mining value chain from exploration through mine design and planning, operational scheduling and mining operations in hard ore, soft ore and underground applications.
It supports critical mining operations from exploration through mine design and planning, operational scheduling and
mining operations in hard ore, soft ore and underground applications.
Under Weir’s ownership, Micromine will leverage the company’s global direct distribution channels in mining to further accelerate its growth.
The acquisition will ultimately combine with Weir’s MOTION METRICS and NEXT intelligent solutions and accelerate its vision for a digital platform using data from across the mining value chain to optimise resource planning, mine design and operations, and processing activities.
With this acquisition, Weir’s strategy is to become an end-to-end software segment leader in the mining industry with solutions for process optimisation and clear competitive differentiation in line with Weir’s existing business model.
“The acquisition of Micromine is a significant step in our strategy of investing in technology to accelerate smart,
efficient and sustainable mining,” Weir chief executive officer (CEO) Jon Stanton said.
“The combined force of Micromine and Weir will create a sector-leading globally scaled platform to optimise performance across the mining process. In Micromine, we are adding an established, high-quality business and proven performer that is complementary to Weir’s aftermarket-focused business model and current digital solutions.
“This acquisition provides a compelling opportunity for strong value creation in the immediate and longer term.”
The acquisition is expected to be completed in the second quarter of 2025, subject to clearance by the Foreign Investment Review Board of Australia.
“We are thrilled that Micromine will be joining the Weir family of businesses which we think is the perfect home for
the business,” Potentia Capital managing partner Andrew Gray said.
“I feel the addition of Micromine’s solutions, in particular its suite of AI (artificial intelligence) offerings, will allow Weir’s
customers to rapidly capitalise on their digital futures.”
Post completion, Weir intends to initially run Micromine independently, while reporting externally under the ESCO
division.
In due course, Weir intends to integrate the business with MOTION METRICS and NEXT intelligent solutions, to create a combined digital optimisation platform.
This business will be led by Kristen Walsh, who is currently the managing director of Weir Minerals’ division APAC region.
Walsh will join the group executive reporting to Stanton. Current Micromine CEO Andrew Birch will remain with
Weir for up to 12 months to support Walsh in an advisory capacity.
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