Sandvik To Buy Australian Mine Planning Software Company

Sandvik AB (SDVKF.PK), a Swedish engineering company, said on Thursday that it signed an agreement to acquire privately held Australian firm Deswik, a provider of mine planning software, for an undisclosed sum.

Stefan Widing, President and CEO of Sandvik, commented: "… Mine planning and operations management is a key growth opportunity, and this complementary acquisition and our new Digital Mining Technologies Division will strengthen our digital offering and enable us to provide customers a more comprehensive suite of technologies."

Sandvik expects the deal to add to its adjusted earnings, and to conclude in the first quarter of 2022.

The company also estimates that transaction costs of approximately 50 million Swedish Kronor in total will impact Sandvik Mining and Rock Solutions in the fourth quarter.

Post acquisition, Deswik will be a part of a newly formed division Digital Mining Technologies within business area Sandvik Mining and Rock Solutions.

Deswik's revenue per October 2021, on a rolling twelve month basis, totaled A$79 million, with an EBITA margin of approximately 30 percent, the acquirer said.

Founded in 2008 and headquartered in Brisbane, Deswik has approximately 300 employees and operates 14 offices in 10 countries.

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