CAE sells mining software division to Constellation Software
Canadian flight-simulator software company CAE has sold its mining software business to Constellation Software.
Following the acquisition, CAE's mining software unit called Datamine will operate under Constellation Software's Vela Software Division.
Both companies have not disclosed the financial details of the deal, but CAE said that it is selling to focus on its core businesses.
CAE president and CEO Marc Parent said: "As reported last year, we decided to sell our mining business in order to concentrate our capital investment and management resources on our three core markets: civil aviation, defence and security, and healthcare.
"We are pleased that Constellation Software, a leading Canadian company specialising in vertical-market software businesses, will be leading Datamine through the next phase of its development."
Datamine provides technology and services to mining companies, which is used for planning and managing mine operations.
It provides software which is used for exploration data management, ore-body modelling and mine planning, as well as consulting services to more than 1,400 companies.
Vela Software chief executive officer John Billowits said: "We are excited to acquire CAE's mining software business, which represents our first investment in the mining sector.
"We welcome the Datamine customers and employees to the Constellation family."