India, Feb. 28 -- Scottish mining technology company Weir Group Plc (WEIR.L) announced on Friday that it had entered into a binding agreement to acquire Mining Software Holdings Pty Ltd or Micromine for a sterling equivalent enterprise value of 657 million pounds or A$1.31 billion.
Micromine is a Perth, Australia based software provider for the mining industry. The deal is expected to be completed in the second quarter of 2025, after securing clearance from the Foreign Investment Review Board of Australia or FIRB.
Weir Group expects to fund the transaction with a combination of available cash and new debt facilities.
Once the deal is complete, Weir plans to initially operate Micromine as an independent entity, while reporting externally ...