View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
December 21, 2017

Orica to acquire mining technology company GroundProbe for $157m

Explosives and blasting systems company Orica has signed an agreement to acquire GP Holdco (GroundProbe) from Crescent Capital Partners for A$205m ($157.12m).

Explosives and blasting systems company Orica has signed an agreement to acquire GP Holdco (GroundProbe) from Crescent Capital Partners for A$205m ($157.12m).

GroundProbe is a provider of critical measuring technologies for the mining sector, offering geotechnical slope stability monitoring for improved mine productivity and safety.

The company’s product offering includes radar and laser-based monitoring systems, along with advanced processing and analytic software.

Orica CEO Alberto Calderon said: “The integration of GroundProbe’s market-leading technologies will further consolidate our position as the industry leader in digitally enabled blasting solutions to the mining industry, and strengthen our existing presence in the large and high growth mining and civil monitoring markets.

“We believe the potential for data-driven improvement in the drill and blast component of the mining value chain is significant.”

“We believe the potential for data-driven improvement in the drill and blast component of the mining value chain is significant.

“By integrating GroundProbe’s capabilities alongside Blast IQ and Nitro Consult, we are able to expand the digital solutions we can offer to help customers improve safety, productivity, and environmental outcomes.”

The acquisition is expected to result in direct synergies to Orica with existing and planned customer solutions, including Blast IQ and Nitro Consult.

Orica noted that GroundProbe’s technologies complement its strategy and customer base.

Subject to customary closing conditions, the deal is expected to be complete in the first quarter of next year.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology