VERACIO'S LANDMARK ACQUISITION OF MINALYZE SET TO FAST-TRACK GLOBAL OREBODY KNOWLEDGE THROUGH ENHANCED DATA ANALYSIS AND AI

SALT LAKE CITY and GOTHENBURG, Sweden, Sept 19 (Bernama-GLOBE NEWSWIRE) -- Pioneering a transformative leap in geosciences, Veracio has proudly entered into a binding agreement to acquire pioneers in scanning and data innovators, Minalyze for a total consideration equal to US$29.3 million. With the unique combination of Veracio’s AI and advanced analytics solutions and Minalyze’s geological data visualization technology, this strategic acquisition will transform the way the industry captures, analyzes, and interprets geological information, ushering in an era of informed decision-making in an increasingly complex and data-driven world.

"This acquisition represents an exciting new chapter for both Veracio and Minalyze," states Veracio Chief Executive Officer, JT Clark. "We see this as a 'better together' opportunity, leveraging our collective expertise to push boundaries and create a product portfolio that goes beyond anything previously available for the mining and exploration industry."

Annelie Lundström and Mikael Arthursson, the esteemed co-founders of Minalyze, will assume integral leadership positions within Veracio, while the entire Minalyze team will seamlessly transition under the Veracio banner.

"Joining forces with Veracio is a remarkable step forward," says Annelie Lundström. "We believe this acquisition will enable us to enhance what we’ve accomplished to date, deliver distinct value to our clients and redefine industry benchmarks collaboratively."

“We are committed to maintaining the quality and innovation the industry has come to expect from both Veracio and Minalyze,” said Mike Ravella, Veracio’s Chief Innovation Officer. “We want to assure our clients on both sides of this transaction that the products and quality of services they trust and value will continue to be available and well-supported, and we encourage and appreciate their continued support.”

This landmark deal will capitalise on the synergy between Minalyze and Veracio’s scientific and technological progress and prowess. Veracio remains steadfast in its mission to evolve data acquisition and AI in geosciences, and to unveil vital resources globally with enhanced speed. Completion of the transaction is scheduled to occur on 20 September 2023. 

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