Atlas Copco Completes Acquisition of Swedish Mining Intelligence Business
Stockholm, Sweden: Atlas Copco, a leading provider of sustainable productivity solutions, has completed the acquisition of part of Mobilaris MCE AB, a Sweden-based company that provides advanced software that optimizes underground mining operations.
Atlas Copco has acquired 34% of Mobilaris MCE, based in Luleå, Sweden, a business that was part of Mobilaris AB. Mobilaris MCE’s software solutions offer situational awareness of the mines, real-time positioning and detailed status information on vehicles, equipment and personnel, presented in a sophisticated 3D user interface. The software is used for underground mining, tunneling and other civil engineering. The business has about 20 employees and had revenues in 2016 of about MSEK 30 (MUSD 3.5).
Atlas Copco announced on June 8, 2017, that it had agreed to the acquisition.
The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed. Mobilaris MCE will operate as a separate company partly owned by Atlas Copco.