The Weir Group has agreed to acquire the mining technology business Motion Metrics for £89 million.
Canadian-based Motion Metrics develops artificial intelligence and 3D machine vision technology to improve safety, efficiency and productivity of mine operations globally. As part of the agreement, Motion Metrics’ headquarters in Vancouver will become Weir’s global center for excellence in AI and Machine Vision technology.
According to Jon Stanton, Weir Group CEO, “The combination of Weir and Motion Metrics will be extremely powerful and reflects our ambition to play a leading role in mining’s technology transformation. Motion Metrics not only provides access to innovative and highly relevant technology that will accelerate growth in our ESCO division, but it also brings world-class expertise in AI, rugged 3D Machine Vision technology, and data science that is applicable across the group.”
Motion Metrics was founded in 1999 by Dr. Sharam Tafazoli, who will join the Weir Group and oversee the new Weir center. “Having proven our technology and grown rapidly over recent years, the time is right for us to accelerate our development as part of the Weir Group, which brings access to every major mining region in the world, from pit to plant,” said Dr. Tafazoli.