AspenTech Announces Agreement to Acquire Micromine
Bedford, Massachusetts | July 2022
Aspen Technology (NASDAQ:AZPN) (“AspenTech'”) announced an agreement to acquire Micromine, a global leader in design and operational management solutions for the mining industry, from private equity firm Potentia Capital and other sellers for AU$900 million in cash (approximately $623 million USD). L Capital originally invested in Micromine alongside Potentia Capital in 2018 via L Capital Fund I LP. The acquisition is expected to close in the fiscal second quarter of 2023, subject to receipt of regulatory approvals.
Micromine participates in the Smart Mining Market, a global market which in 2022 is approximately US$11.5bn. Based on Micromine’s technology, their relevant global segments of the total Smart Mining Market are US$5.3bn and cover Data Management and Analytics, Smart Asset Management and other solutions. With a 35-year track record of success and 280 employees across 22 global offices, Micromine provides mission critical solutions for over 800 blue-chip customers across all mining operations and commodities with a focus on various metals essential for the energy transition such as lithium, cobalt and nickel, base metals such as copper and iron ore, and precious metals such as gold.
The transaction complements AspenTech’s existing asset optimization solutions and positions the company in a leadership role to deliver the “Digital Mine of the Future,” in support of excellence in operations with a focus on safety, sustainability, reliability, and efficiency. In addition, AspenTech is now uniquely positioned to help mining customers address the dual challenge of meeting the demands of a growing population with an increasing standard of living, while reaching sustainability goals. AspenTech’s innovation and unique expertise in digitally transforming the chemicals and oil and gas industries will be critical to the mining industry as it embarks on rapid digitalization.
About Micromine
Micromine is a pioneer in Australia’s software industry and a leading provider of advanced technology for the exploration and mining sector. The company celebrated its 35th anniversary in 2021. Micromine’s products are used at more than 2,000 sites in over 90 countries. The suite includes world leading products Micromine Origin, Micromine Beyond, Micromine Geobank, Micromine Pitram, Micromine Spry, Micromine Alastri, and now Micromine Nexus. Together, they cover the entire mining lifecycle, from geological exploration and data management to resource estimation, 3D mine design, planning, scheduling and production control. Micromine is a global leader in its segment with a presence in all major mining hubs.