Brisbane-based mining software firm Interlate has been acquired by The Cravern Group, an Australian engineering services company, for an undisclosed price.
Announcement of the transaction followed the recent exit of founder and managing director, David Meldrum. Meldrum founded Interlate in 2016.
He told InvestMETS.com: “One of the biggest challenges for the introduction of modern digital systems, with all the benefits they bring, is getting acceptance from the workforce.
“Some statistics indicate greater than 85% of digital programs fail to be implemented and of the ones that do get implemented, something like only 10% are sustained. We saw this time and again at Interlate.
“Despite the compelling value proposition, customers could not implement solutions as business as usual.
“Our conclusion was that we needed to incorporate Interlate’s solutions into integrated workflows with supporting technology systems.
“This is what Cravern does.”
Brett Harries, Interlate director commercial operations, said this week the transaction process was “seamlessly finalised earlier this week, and the integration of ex-Interlate employees into the new business has already borne fruit as the combined team ready to travel into Peru to deliver our first services project together”.
Interlate describes itself as a technology company, “with productivity improvement and decarbonisation offerings leveraging data science”.
“Interlate is all about leveraging data analytics and optimisation to drive real results for mining operations,” the company said this week.
“With Cravern in our corner we will continue our optimisation services but [we] are also gearing up to take things to the next level.
“This relationship … is about combining our strengths, expertise and passion for innovation to make a lasting impact on the mining industry.”
Formed in 2003 by experienced engineering and construction managers from the mining, infrastructure and energy sectors, Cravern has 35 people working out of its offices in Brisbane and Perth, Australia, Mongolia, and Denver, USA.
The company has consulting, technical services and “applications” arms working in mining, energy, infrastructure, transport and chemicals.
“Now more than ever, information and the supporting technology is able to redefine the way your industrial business operates,” Cravern management says.
“We believe the worldwide use of information technology and emergent capabilities have opened pathways for each asset to reach new levels of productivity.
“Information is a game changer.”
