K2fly Ltd has announced that it has executed a share sale agreement (SSA) to acquire Sateva Pty Ltd and Sateva Development Pty Ltd, (together referred to as SATEVA).
SATEVA provides innovative software solutions and IT consulting services, including software development and services for mining, resources, and rail industries. SATEVA has an established consulting services business with tier 1 and 2 resource companies and has also developed and is in the process of developing additional Software as a Service (SaaS) based solutions within the resource technical assurance space (SATEVA Software Products), complementing and adding to the company’s existing software products.
SATEVA is based in Perth and was established by Mark Forster, Founder and Managing Director. Forster will be joining K2F’s executive team, as its Chief Development Officer. SATEVA’s current clients in the resources sector include Rio Tinto Iron Ore, Roy Hill and FMG. It also has RAC Insurance as a client.
Today, SATEVA specialises in building IT applications in areas such as exploration, grade control, planning, ore tracking, inventory management, reconciliation, and data management.
SATEVA is also in the process of developing a new solution for Block Model Management which will improve and simplify model management for multi-site global miners, as well as provide a direct line of sight and governance from the block model to the annual inventory report. Block models are aggregated to produce annual mineral resources and reserves reports – governed by K2fly Resource Inventory solution (RCubed).
Model Manager is a disruptive new development in geological and mine planning processes, reporting and analysis that exploits cloud computing and analytics and leverages K2fly’s position in the reporting of mineral resource inventory with global tier 1 and 2 clients.
K2fly CEO, Brian Miller, commented: “We are constantly looking for complementary software solutions that further improve and extend our customers’ experience. SATEVA and our new Block Model Management capabilities will be a game changer in the mining industry and beyond, as we use modern technologies to dramatically improve what is increasingly a big data management and governance problem for the resources industry.”
Read the article online at: https://www.globalminingreview.com/finance-business/28102020/k2fly-acquires-sateva/