Australia’s IMDEX is paying about A$99 million for Luxembourg-headquartered Advanced Logic Technology and control of ALT subsidiary Mount Sopris Instruments as it continues to build out its subsurface sensor and software technology stack.
With incentive payments and what IMDEX is calling a staged transaction to take its Mount Sopris stake to 100%, it would pay more than $134 million for ALT and MSI from current cash reserves and an existing debt facility.
The deals follow Australian Securities Exchange-listed IMDEX’s recent $33 million acquisition of Norway’s Earth Science Analytics and earlier $324 million purchase of Trondheim-based Devico.
IMDEX describes ALT as a “global leader in high-performance borehole imaging instruments and geoscience data processing software … [including] the industry-standard WellCAD software”.
ALT owns 61.1% of MSI, based in Colorado in the USA. MSI was a “leading US manufacturer and distributor of geophysical equipment and software for subsurface investigations”, IMDEX said.
“By combining ALT’s and MSI’s world-class sensors, software and engineering with our digital earth knowledge ecosystem we aim to deliver even more powerful, integrated solutions,” the Australian company said. “Our clients can look forward to richer geoscience insights, enhanced drilling optimisation and seamless support, wherever they operate.”
IMDEX said the acquisitions would add about $10 million of FY2026 revenue and circa-$2 million of EBITDA.
“The acquisition of ALT and MSI is a transformative step, strengthening our position as a global leader in digital earth knowledge and subsurface intelligence,” said IMDEX CEO Paul House.
“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.”
Luxembourg-based Elvinger Hoss Prussen is IMDEX’s lead legal counsel on the acquisition. It also engaged Davis Graham in the US and Gilbert + Tobin in Australia.
ALT is being advised by PWC and Vertumnus Law in Luxembourg.
