Veracio said it is “pioneering a transformative leap in geosciences” with its new binding agreement to acquire scanning and data group Minalyze in a US$29.3 million deal.
With the takeover, Veracio said it will be combining its AI and advanced analytics solutions with Minalyze’s geological data visualization technology. Together, the benefits will transform how the industry captures, analyzes and interprets geological information, it added.
“This acquisition represents an exciting new chapter for both Veracio and Minalyze,” Veracio CEO JT Clark noted. “We see this as a ‘better together’ opportunity, leveraging our collective expertise to push boundaries and create a product portfolio that goes beyond anything previously available for the mining and exploration industry.”
Annelie Lundström and Mikael Arthursson, co-founders of Minalyze, will assume integral leadership positions within Veracio, while the entire Minalyze team will seamlessly transition under the Veracio banner.
Completion of the transaction is scheduled to occur on 20 September 2023.