Hexagon acquires Minnovare for drilling technology

19 January, 2022

Minnovare are a leading provider of drilling technology that improves the accuracy, speed and cost of underground drilling. Hexagon have recently acquired Minnovare to help eliminate the manual, labour-intensive, and unproductive processes in underground mining that lead to blast-hole deviation, dilution and downtime.

Deficiencies in existing drilling processes and production phases will be assessed via sensors, software and data analytics.

“The integration of Minnovare’s innovative mining solutions with our strong, core technical competence is a strategic fit,” Hexagon president and chief executive officer Ola Rollén said.

“It will prove invaluable for customers striving to improve the speed, cost and accuracy of underground drilling.

“Today’s acquisition strengthens our formidable drill and blast portfolio, and accelerates our underground development roadmap.”

Private equity investors Viburnum Funds and RCF Jolimont will exit after a successful multi-year period of supporting the growth of the business.

“We are excited for Minnovare to join the Hexagon group and embark on the next leg of the company’s growth,” Minnovare managing director Callum McCracken said.

“Being part of Hexagon will provide Minnovare with established global channels and an engaged customer base, which will enable us to deliver our industry-leading technology and downstream benefits to mining companies across the world.”

Minnovare was founded in Perth in 2012, and is a global leader in digital reality solutions, combining sensor, software and autonomous technologies. They currently work with more than 150 contracted systems in over 90 mining operations worldwide,