Weir completes acquisition of Micromine for $840M

Weir Group announced Wednesday it has completed the acquisition of mining software provider Micromine in an all-cash deal valued at £624 million (A$1.31 billion, or $840 million).

The Scottish engineering firm agreed to buy Micromine in late February, in an effort to enhance the group’s digital mining solutions and support its growth strategy.

“Micromine is a high-performing, high-growth business of scale, and is a natural and complementary fit for Weir,” Weir Group CEO Jon Stanton said in a press release.

Australia-based Micromine offers comprehensive solutions across the upstream mining value chain, from exploration through mine design and planning, operational scheduling, and mining operations in hard ore, soft ore and underground applications.

“Bringing together Micromine with our existing digital technologies, our vision is to create a digital platform that helps our customers optimize their performance at each step along the mining value chain,” Stanton added.

Weir’s digital solutions division will be led by Kristen Walsh, previously regional managing director of Minerals APAC. Andrew Birch, current CEO of Micromine, will remain with Weir for up to 12 months in an advisory capacity.

In due course, the company said it intends to bring together Micromine solutions with MOTION METRICS and NEXT intelligent solutions, creating a sector-leading combined digital solutions offering for the mining industry.

In terms of financial guidance, the company expects Micromine’s revenue contribution to be in-line with previous projections, contributing around 25 basis points to group operating margins in 2025, with about £16 million in one-off integration and acquisition related costs.