Epiroc has agreed to acquire Kinetic Logging Services, an Australian company that provides mining companies with geophysical logging services.
Kinetic Logging Services, based in Perth, Australia, provides mining-technology measurement services to build improved geological models that help mining companies increase productivity. The company’s flagship product is OreSight, a highly advanced solution that provides near real-time borehole assay data and grade information. The mining companies feed this data directly into their blast pad models, allowing them to make improved decisions on production and ore blending.
The company is part of MPC Kinetic Holdings, has about 180 employees and has annual revenues of about MAUD 30 (MSEK 195). Helena Hedblom, Epiroc’s President and CEO, says:
“Epiroc is looking forward to welcome the great team at Kinetic Logging Services to the Epiroc Group. Together, we will provide a wide range of smart products and services that strengthen mining customers’ end-to-end productivity, and we look forward to bringing OreSight to our customers around the world.”
The acquisition is expected to be completed in Q2 2021. The transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.