Imdex boss Paul House said the acquisition of Luxembourg-headquartered Advanced Logic Technology would be a ‘transformative step’ for the company.
Imdex boss Paul House said the acquisition of Luxembourg-headquartered Advanced Logic Technology would be a ‘transformative step’ for the company.
The mining technology firm, which operates globally, said on Monday it had filed documents to acquire ALT and subsidiary Mount Sopris Instruments for an upfront combined consideration package valued at around $98.9 million (EUR 55.8 million).
Subject to both closing conditions and foreign investment approval, IMDEX said it was hopeful the transaction – which will be funded from its cash reserves and a pre-existing debt facility – would be finalised during the third quarter of FY26.
Mr House said the acquisition would go a long way to ensuring the company could further enhance its success across multiple sectors.
“The acquisition of ALT and MSI is a transformative step, strengthening our position as a global leader in digital earth knowledge and subsurface intelligence,” he said.
“By integrating ALT’s world-class sensors and WellCAD software package, and MSI’s market-leading borehole geophysical equipment with Imdex’s ecosystem, we are uniquely positioned to deliver value to our customers across the mining, civil, and energy sectors.
“Once again, the ability to combine world class technologies and deep global client networks presents substantial growth synergies, benefiting customers and shareholders both.
“This transaction accelerates our strategy to provide a unified, open platform for earth systems data, supporting smarter, faster decision-making.”
During FY25, Imdex increased its net profit by 70 per cent to $55 million, despite a three per cent decrease in revenue, citing the consistency of its drill site technologies operation for the positive result, along with strong revenue in its final quarter.
The company said it expected to receive approximately $10 million in incremental revenue should the acquisition of ALT and MSI eventualise, along with $2 million of normalised EBITDA.
Imdex last traded at $3.43.
