Imdex Completes AU$23 Million Krux Analytics Deal

MT Newswires Live

Apr 02

Imdex (ASX:IMD) has completed its acquisition of the remaining 60% stake in Krux Analytics for around AU$23 million, giving it full ownership of the drilling software firm, according to a Thursday filing with the Australian bourse.

The transaction, which closed under a pre-agreed valuation approach, follows Imdex acquiring a 40% stake in Krux in April 2023 for AU$6.5 million.

The deal allows Imdex to fully integrate Krux's advanced drilling analytics platform with its Drill Site Technologies business, boosting operational performance and real-time data visibility at the drill site, per the filing.

Krux is expected to progress toward margin contribution as the integration advances.

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