MinePortal is a next-generation cloud-connected orebody knowledge technology that interprets and models geological data to enable real-time 3D visualisation. The technology will integrate with IMDEXHUB-IQM and enhance the real-time orebody knowledge ecosystem.
The acquisition will also accelerate the development of the IMDEX BLASTDOG geosensing tool and enhance its value for clients by linking data obtained from both IMDEX and third-party products to deliver real-time 3D visualisation models.
IMDEX CEO Paul House said the acquisition continued the evolution of IMDEX with its focus on technology to deliver real benefits for clients throughout the mining value chain. "The purchase of MinePortal is in line with IMDEX's strategy to move into the production end of the mining value chain and will complement our other initiatives.
"The ability for IMDEX and DataCloud to bring together IMDEXHUB-IQ, IMDEX BLASTDOG, and MinePortal is genuinely exciting. The partnership will accelerate our product development roadmap and will benefit IMDEX, our clients and the global minerals industry.
"Our integrated rock knowledge technology will allow visualisation of rock knowledge data in 3D, supporting enhanced decision making in real-time. To build and view these high spatial density models in the cloud, in real-time, and access them from anywhere in the world, is world-class tech.
"MinePortal will enrich the value that current and future rock knowledge sensors provide clients; it has an existing presence within mining production that is readily scalable, and it increases our SaaS offering and will generate additional quality revenue."
The acquisition is subject to conditions including a final vote of DataCloud shareholders to approve the transaction, which is expected to be finalised by the end of this month.
When IMDEX reported record full-year results last month, House said the strength of the balance sheet and net cash position provided the ability to pursue strategic acquisitions as they presented.
MinePortal will immediately deliver additional software-as-a-service revenue for IMDEX by generating unique answer products derived from both IMDEX technology originated data and third-party geosensing systems. It provides insights into geological properties to assist clients with blast design through analysis of measure while drilling data.
Key DataCloud personnel will join IMDEX, complementing the company's existing presence on the West Coast of California, and bring additional AI and geoscience expertise.
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