Australian mining technology firm Vayeron is looking to build on strong 2022 sales momentum in Chile with its acquisition of four-year-old Santiago-based IOT Chile.
IOT Chile has been supporting Vayeron and its flagship Smart-Idler industrial IOT product in Chile since 2019. The acquisition adds a “small but skilled and dedicated team” to Vayeron’s eight Australia-based staff.
“Over the coming months we will be increasing our local inventory so that our customers can gain immediate access to Vayeron’s leading conveyor monitoring technology,” IOT Chile director Ian Streeter said.
Vayeron CEO Ryan Norris was keeping the cost of the company’s first acquisition close to his chest but said inclusion of the IOT Chile business would be earnings accretive for the Queensland-based firm. Along with giving Vayeron a direct footprint in South America, the Santiago base of operations would provide a launchpad to accelerate Vayeron’s growth in the North and South American region, he said.
Norris said the Americas markets were crucial to Vayeron’s plans to accelerate global take-up of its Smart-Idler wireless conveyor monitor and xBud IOT platform. The technology could unlock “user-defined digitalisation potential in niche applications” not addressed equipment manufacturers.
Vayeron now manufactures its proprietary technologies in-house in Mackay, Queensland, and after investing to diversify its supply chain and onshore the manufacturing of its product lines has commissioned state of the art equipment at its premises in Mackay to conduct electronic PCB production and full end-to-end sensor assembly and completion
“The IOT Chile team have done a phenomenal job in commercialising our technology in Chile and have developed a solid brand for Vayeron in Chile,” Norris said.
“It makes perfect sense to bring them in under our roof and together, tackle the South American market directly with all the efficiencies and benefits that come from now being operative in market without an intermediary.”