Imdex picks up overseas specialists Advanced Logic Technology and Mount Sopris Instruments in deal worth $99m

Perth-based mining tech company Imdex will grow its earth science capabilities with the near-$100 million acquisition of two overseas specialists. Imdex will pay €55.8 million ($98.9m) for Luxembourg-based Advanced Logic Technology and US-based subsidiary Mount Sopris Instruments. Managing director Paul House said the deal would strengthen Imdex’s position as a global leader in digital earth knowledge and subsurface intelligence. “By integrating ALT’s world-class sensors and WellCAD software package, and MSI’s market-leading borehole geophysical equipment with Imdex’s ecosystem, we are uniquely positioned to deliver value to our customers across the mining, civil, and energy sectors,” Mr House said. “Once again, the ability to combine world-class technologies and deep global client networks presents substantial growth synergies, benefiting customers and shareholders both. “This transaction accelerates our strategy to provide a unified, open platform for earth systems data, supporting smarter, faster decision-making.” The deal also includes two performance-linked deferred consideration components. The first relates to successful deployment of technology being developed by ALT across a number of trials while the second provides for a revenue share framework for sales and rentals of hardware and software licences. The performance-linked consideration amounts are capped in aggregate at €20m. ALT was established in 1993 and is a global leader in high-performance downhole rock property sensor systems and geoscience data processing software. Its WellCAD software suite enables data management, visualisation, and interpretation of downhole geophysical data. MSI, based in the US state of Colorado, has a more than 70-year history and is a leading US manufacturer and distributor of geophysical equipment and software for subsurface investigations. The two companies are expected to contribute $10m in incremental revenue and about $2m in normalised pre-accounting earnings.