Weir Group has signed a binding agreement to acquire Mining Software Holdings (Micromine) for an enterprise value of £657m.
Headquartered in Perth, Australia, Micromine provides software that supports mining operations from exploration to mine design, planning, and operational scheduling.
The company has demonstrated consistent growth, with a compound annual growth rate (CAGR) of approximately 25% in recent years. Its revenues, projected to reach around £68m in 2025, primarily stem from recurring SaaS subscription income.
The acquisition is expected to be completed in the second quarter of 2025, subject to approval from the Foreign Investment Review Board of Australia.
It will be funded using a combination of existing cash resources and new debt facilities.
Post-completion, Weir plans to initially operate Micromine independently under its ESCO Division, with future integration into Weir’s MOTION METRICS and NEXT intelligent solutions. This integration aims to create a comprehensive digital optimisation platform, enhancing resource planning, mine design, operations, and processing activities.
Kristen Walsh, currently Managing Director of Minerals Division APAC region, will lead the new business unit and report to Jon Stanton, Group Executive. Andrew Birch, the current CEO of Micromine, will remain with Weir for up to 12 months in an advisory role to support the transition.
The acquisition aligns with Weir’s goal to become a leader in end-to-end software solutions for the mining industry, focusing on process optimisation and competitive differentiation.
Weir CEO Jon Stanton said: “The acquisition of Micromine is a significant step in our strategy of investing in technology to accelerate smart, efficient and sustainable mining. The combined force of Micromine and Weir will create a sector-leading globally scaled platform to optimise performance across the mining process.
“In Micromine, we are adding an established, high-quality business and proven performer that is complementary to Weir’s aftermarket-focused business model and current digital solutions. This acquisition provides a compelling opportunity for strong value creation in the immediate and longer term.”
