Construction and mining equipment major Komatsu has added another Australian technology company to its expanding mining-tech arm, buying Queensland-based software firm iVolve for an undisclosed sum.
Komatsu acquired Brisbane-based mining-tech company, MineWare, back in 2017 and then outlaid more than US$250 million to buy mining simulation training leader, Immersive Technologies, in 2019, and underground communications and software firm, Mine Site Technologies (MST) in 2022.
iVolve, prominent in mine and quarry fleet management, was founded back in 1995 and says it wants “the brand to reach a broader global market”.
The bedrock of Komatsu’s mining-tech arm is the Modular Mining Systems fleet management software and communications business it bought into more than 20 years ago.
The company claims to have more than 40 customer sites in Australia, North America and Europe, with planned expansion into west Africa, Indonesia and central America.
“We have enjoyed a long working relationship with Komatsu and believe this agreement aligns with our goals and vision, and importantly, the resources of Komatsu will help us achieve our growth goals,” iVolve co-founder and CEO Kim Parascos said.
She started the firm with current chief technology officer, David Eagles, and both are said to be continuing in their roles within Komatsu.
Komatsu Australia CEO Sean Taylor said Australia was “renowned as a global centre of excellence” for mining, quarrying and construction technology.
“This acquisition will provide global scale for iVolve and enable the ongoing development of iVolve’s products and solutions into the future.”
