The Weir Group PLC, a global engineering firm based in Glasgow, has announced its acquisition of Mining Software Holdings Pty Ltd, known as Micromine, for £657 million (A$1,310 million).
This strategic move aims to bolster Weir’s position in the mining industry and create a comprehensive digital platform to enhance productivity and sustainability in mining operations.
Micromine, headquartered in Perth, Australia, is a leading provider of software solutions for the mining industry, offering services from exploration to mine operations.
The company has demonstrated strong performance, with a revenue CAGR of approximately 25% over recent years and a significant portion of its income derived from recurring SaaS subscriptions.
The acquisition, expected to close in Q2 2025, will be funded through Weir’s existing cash resources and new debt facilities. Weir’s CEO, Jon Stanton, expressed that the merger will establish Weir as a leader in mining software, optimising performance across the mining process.
Following the completion of the deal, Micromine will initially operate independently within Weir’s ESCO Division.
Kristen Walsh, currently Managing Director of Weir’s Minerals Division APAC region, will lead the integrated business, while Andrew Birch, CEO of Micromine, will stay on in an advisory role for up to 12 months.
Weir anticipates the acquisition to be immediately accretive to its earnings per share in the first full year of ownership and expects the return on invested capital to exceed the weighted average cost of capital by 2028.
This move aligns with Weir’s long-term strategy to invest in technology that advances smart, efficient, and sustainable mining solutions.
The transaction is subject to clearance by the Foreign Investment Review Board of Australia (FIRB).
Once approved, this acquisition is set to significantly enhance Weir’s digital offerings in the mining sector, creating a unique customer proposition as the premium provider of mission-critical surface mining solutions
