SYDNEY: Leading global Mining-Tech company, Imdex Limited has completed the acquisition of Flexidrill and its patent protected technologies, COREVIBE™ and MAGHAMMER™, following payment of NZ$3 million cash.
Commenting on the acquisition, IMDEX Managing Director, Mr Bernie Ridgeway said: “Flexidrill is an excellent strategic fit. We are confident these new technologies will provide substantial value to our clients within the minerals industry and significant revenue and earnings for IMDEX. During the balance of FY20 we will continue to focus on introducing COREVIBE™ to clients globally and further development of MAGHAMMER™, including client trials.”
IMDEX will provide an update regarding COREVIBE™ and MAGHAMMER™ with its 1H20 results announcement on 17 February 2020.