As announced, Hexagon AB, a global leader in digital reality solutions, combining sensor, software and autonomous technologies, acquired Minnovare.

As surface ore deposits are exploited, mines are increasingly pushing deeper underground for minerals and metals. Minnovare specialises in eliminating the manual, labor 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 Technical Officer, Rob Daw. “This 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,” said 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.

Founded in Perth, Western Australia in 2012, Minnovare has established a proven track record, with more than 150 contracted systems in over 90 mining operations worldwide, sold as a recurring revenue package. Minnovare will operate as part of Hexagon’s Mining division.

ABOUT MINNOVARE
Founded in Perth, Western Australia in 2012, Minnovare is an advanced technology company that specialises in improving the speed, cost and accuracy of underground drilling across mine production, development and resource definition. Our advanced drilling optimisation solutions combine sensors, software and data analytics to address deficiencies in existing drilling processes, materially improving the economics of underground hard rock mining operations.

First launched in 2018, Minnovare’s Production Optimiser system has been proven to significantly reduce blast hole drilling deviation and rig set-up times in underground mines, resulting in numerous flow-on benefits; reduced re-drills, reduced dilution, reduced bridging (improved recovery), and greater all-round visibility and accountability across drill & blast performance. Since its release, the technology has seen rapid uptake within the Australian market. Uptake overseas has followed in North America, Africa and South America.

ABOUT HEXAGON
Hexagon is a global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications.

Our technologies are shaping production and people related ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future.

Hexagon’s Mining division solves surface and underground mine challenges with proven technologies for planning, operations and safety.

Hexagon (Nasdaq Stockholm: HEXA B) has approximately 21,000 employees in 50 countries and net sales of approximately 3.8bn EUR. Learn more at www.hexagon.com and follow us @HexagonAB.

For further information please contact:
Diane Porteous – Head of Global Marketing
dporteous@minnovare.com
0401 392163