ASX-listed IMDEX has acquired the remaining 60% of Canadian drilling software company Krux Analytics for A$23 million (US$16 million).
IMDEX, a circa-A$2 billion supplier of sensors, software and drilling fluids to miners and contractors, bought 40% of Krux for A$6.5 million in 2023.
Full ownership of Krux enabled IMDEX to fully integrate the former’s cloud-based drilling analytics platform with its Drill Site Technologies (DST) business, IMDEX said. “Combining Krux’s analytics with our solutions means greater efficiency, cost control and a seamless digital experience for our customers at the drill site – making drilling safer, easier and more productive,” CEO Paul House said.
Krux founder and CEO Jody Conrad said IMDEX brought global reach, mining expertise and a “technology foundation needed to scale what we’ve built at Krux”.
“Together, we’re in a strong position to deliver real, measurable value to customers – both at the drill site today and across the broader mining value chain over time,” she said.
Conrad said Krux’s platform captured, visualised and analysed real-time drill rig data to optimise drilling performance, utilisation and cost efficiency. Its solutions were trusted by global industry leaders and had managed more than US$3 billion of drilling spend and supported more than 17 million metres drilled since the company’s inception in 2016.
