SALT LAKE CITY and GOTHENBURG, Sweden, Sept. 20, 2023 (GLOBE NEWSWIRE) — Veracio, delivering a transformative breakthrough in geosciences, is proud to have signed a binding agreement to acquire Minalyze, mining scanning pioneers and data innovators , for a total amount of US$ 29.3 million. With the unique combination of Veracio’s advanced analytics and artificial intelligence solutions and Minalyze’s geological data visualization technology, this strategic acquisition will transform the way the industry captures, analyzes and interprets geological information, moving towards an era of Informed decision making in an increasingly complex and data-driven world.
“This acquisition represents a promising new chapter for both Veracio and Minalyze.” said JT Clark, CEO of Veracio. “We see this as an opportunity to ‘do better together’, leveraging our shared expertise to push boundaries and create a product portfolio that goes beyond anything previously available in the exploration and extraction field. »
Annelie Lundström and Mikael Arthursson, the honored co-founders of Minalyze, will assume full leadership roles within Veracio, while the entire Minalyze team will seamlessly transition under the Veracio banner.
“Joining our efforts with Veracio is a great step forward”commented Annelie Lundström.. “We believe this acquisition will allow us to build on what has been achieved to date, deliver distinctive value to our customers and jointly redefine industry standards. »
“We are determined to maintain the level of quality and innovation that the industry expects from Veracio and Minalyze.” added Mike Ravella, Director of Innovation at Veracio. “We want to assure our customers on both sides of this transaction that the products and quality of services they trust and value will remain available and well supported, and we encourage and value their loyalty.” »
This important transaction will capitalize on the synergy between the technological and scientific prowess and progress of Veracio and Minalyze. Veracio remains committed to its mission to advance data acquisition and artificial intelligence in the geosciences, and reveal the world’s vital resources more quickly. The transaction is expected to close on September 20, 2023.
Veracio offers its mining clients a range of solutions that improve, automate and digitally transform their deposit science into exploration, resource definition and production. Supporting a modern approach across a diverse portfolio of products, Veracio merges science and technology with digital accessibility through advanced scanning, detection with strong data governance and implementation of artificial intelligence to accelerate real-time decision making and significantly improve efficiency , profitability and sustainability in all value. chain.
Minalyze has extensive experience in developing drill core scanning instruments and geological data visualization software. Proprietary and unique, the company’s scanner and cloud-based software for scanning large volumes of drilling rigs generate consistent, high-resolution data through rapid, non-destructive collection of numerous data sets. Minalyze has enjoyed international commercial success with customers in Europe, Australia, Africa and North America.