Sandvik to amass superior mine optimization software program supplier Polymathian Industrial Arithmetic
STOCKHOLM, Nov. 14, 2022 /PRNewswire/ — Sandvik has signed an settlement to amass Polymathian Industrial Arithmetic (“Polymathian”), an Australia-based supplier of superior mine optimization software program and providers. Polymathian shall be reported in Digital Mining Applied sciences, a division inside enterprise space Sandvik Mining and Rock Options (SMR).
Polymathian’s options for automated decision-making and course of optimization enhances the providing of Deswik, the world’s main mine planning software program firm which Sandvik acquired in April, 2022 (Sandvik completes the acquisition of the main mine planning software program firm Deswik). Polymathian’s product providing consists of mining operations optimization and simulation software program for areas resembling extraction course of, materials circulation, vitality & gas consumption and upkeep effectivity, and it counts a number of of the world’s largest mining firms as prospects.
“With the acquisition of Polymathian we proceed to broaden our providing to boost productiveness in our mining prospects’ worth chain. Polymathian’s automated decision-making and course of optimization, along with Deswik’s software program instruments for planning and managing manufacturing, signify a novel mixture available in the market,” says Stefan Widing, President and CEO of Sandvik.
Polymathian shall be part of Enterprise Unit Deswik and stay OEM (Unique Tools Producer) agnostic. The acquisition will allow Sandvik to additional speed up the event of its end-to-end optimization, BEV (Battery Electrical Automobile) and AutoMine® choices, by leveraging Polymathian’s distinctive skillset and platform.
“Polymathian is a good addition to Sandvik Mining and Rock Options, and allows SMR to now have a novel digital portfolio that may assist our prospects to optimize their information pushed operations throughout the worth chain and guarantee their mine design is absolutely suitable with applied sciences like AutoMine® and BEVs. I’m very happy to welcome Polymathian to the Group,” says Mats Eriksson, President of Sandvik Mining and Rock Options.
Polymathian was based in 2013, has 50 staff and is headquartered in Brisbane, Australia. The corporate’s annual revenues per June 2022 had been round SEK 100 million. The EBITA margin is roughly 40 p.c and influence on Sandvik’s earnings per share (excluding PPA) shall be accretive. The events have agreed to not disclose the acquisition value. The transaction is predicted to shut throughout the first quarter of 2023.
Stockholm, November 14, 2022
Sandvik AB
For additional info, contact Louise Tjeder, VP Investor relations, telephone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Supervisor, telephone: +46 (0) 70721 1008.
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SOURCE Sandvik
