Hexagon AB, a global leader in digital reality solutions, combining sensor, software and autonomous technologies, has acquired Minnovare, a leading provider of drilling technology that improves the speed, cost and accuracy of underground drilling.
As surface ore deposits are exploited, mines are increasingly pushing deeper underground for minerals and metals. Minnovare specialises in eliminating the manual, labour intensive, and unproductive processes in underground mining that lead to blast-hole deviation, dilution and downtime. Its advanced hardware and data-capture software combine to deliver drill-data faster and more accurately than ever before – improving the efficiency, productivity and overall profitability of underground drilling operations. Its solutions combine sensors, software and data analytics to address deficiencies in existing drilling processes across the resource definition, development and production phases.
“The integration of Minnovare’s innovative mining solutions will be invaluable for customers striving to improve the speed, cost and accuracy of underground drilling,” said Hexagon’s Mining Division Chief Technology Officer, Rob Daw. “Today’s acquisition accelerates and enhances Hexagon’s underground development roadmap as well as strengthening our formidable drill and blast portfolio.”
“We are excited for Minnovare to join the Hexagon group and embark on the next leg of the company’s growth,” added Minnovare Managing Director, Callum McCracken. “Being part of Hexagon will provide Minnovare with established global channels and an engaged customer base, which will enable us to deliver our industry leading technology and downstream benefits to mining companies across the world.”
The transaction sees private equity investors Viburnum Funds and RCF Jolimont realise a successful exit of their investment in Minnovare, following a multi-year period of supporting the growth of the business in conjunction with its founders.
Read the article online at: https://www.globalminingreview.com/finance-business/14012022/hexagon-acquires-minnovare/