Veracio has entered into a binding agreement to acquire pioneers in scanning and data innovators, Minalyze, for a total consideration equal to US$29.3 million.
With the unique combination of Veracio’s AI and advanced analytics solutions and Minalyze’s geological data visualisation technology, this strategic acquisition will transform the way the industry captures, analyses, and interprets geological information, ushering in an era of informed decision-making in an increasingly complex and data-driven world.
“This acquisition represents an exciting new chapter for both Veracio and Minalyze,” states Veracio Chief Executive Officer, JT Clark. “We see this as a ‘better together’ opportunity, leveraging our collective expertise to push boundaries and create a product portfolio that goes beyond anything previously available for the mining and exploration industry.”
Annelie Lundström and Mikael Arthursson, the co-founders of Minalyze, will assume integral leadership positions within Veracio, while the entire Minalyze team will seamlessly transition under the Veracio banner.
“Joining forces with Veracio is a remarkable step forward,” says Annelie Lundström. “We believe this acquisition will enable us to enhance what we’ve accomplished to date, deliver distinct value to our clients, and redefine industry benchmarks collaboratively.”
“We are committed to maintaining the quality and innovation the industry has come to expect from both Veracio and Minalyze,” said Mike Ravella, Veracio’s Chief Innovation Officer. “We want to assure our clients on both sides of this transaction that the products and quality of services they trust and value will continue to be available and well-supported, and we encourage and appreciate their continued support.”
Read the article online at: https://www.globalminingreview.com/mining/25092023/veracio-acquires-scanning-and-data-innovator-minalyze/
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