Triple Point Technology
Triple Point Technology Acquires QMASTOR
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Triple Point Technology Acquires QMASTORTriple Point Technology
Triple Point Technology, the leading global provider of software to manage commodities and enterprise risk, announced today that it has acquired QMASTOR Limited, the premier provider of mining software solutions to manage the tonnage, quality, and value of coal and mineral supply chains from 'pit' to the point of export, import, or consumption.
QMASTOR's mining supply chain solutions are used to manage over one billion tons of coal and mineral movements per year. The company, headquartered in Newcastle, Australia, supports its global client base through regional offices located in Africa, South America, and North America. QMASTOR's clients are some of the most prominent natural resource companies in the world and include BHP Billiton, Rio Tinto, Vale, Anglo American, Xstrata, and Peabody Energy.
Coal is a large, important, and fast growing element of the energy supply mix. Driven largely by rapid population and income growth in developing nations such as China and India, world-wide coal consumption rose by 7.6% in 2010. In the last decade alone, China's coal usage more than doubled, and last year, it became a net importer of coal despite its huge reserves. India also has large and growing energy requirements and relies on coal for 55% of its needs. The rapid growth in global coal consumption is expected to continue for the foreseeable future.
"Our product strategy is to provide the deepest functionality, from upstream to downstream, in each commodity class. Given the importance of coal to future global economic growth, the addition of QMASTOR to the Triple Point portfolio is extremely compelling," said Peter F. Armstrong, president and CEO, Triple Point Technology. "QMASTOR solutions are a perfect addition to the Triple Point portfolio in that they supply all the functionality to optimize an end-to-end coal and mineral supply chain, while at the same time being completely complementary to the rest of the Triple Point product set."
The companies' complementary customer bases, target markets, and product sets create substantial opportunities for continued and accelerated growth in combined market share, revenue, and profit. The outstanding financial performance of QMASTOR -- in terms of strong revenue growth, healthy profit margins, and a solid balance sheet -- underscores the suitability and attractiveness of the transaction for both Triple Point and QMASTOR employees and customers.
QMASTOR managing director, Trent Bagnall, has been named Triple Point's managing director of coal and mineral supply chain solutions. "This is exactly the right time in the life cycle of QMASTOR to become a part of Triple Point," said Mr. Bagnall. "Integrating with a larger, successful organization gives us the resources and reach to accomplish our ultimate goals. This is an important time in the mining software market, and our joining-of-forces will underpin and accelerate our growth."