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June 8, 2017
Stockholm, Sweden, June 8, 2017: Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire part of Mobilaris MCE AB, a Sweden-based company that provides advanced software that optimizes underground mining operations.
Atlas Copco will acquire 34% of Mobilaris MCE, based in Luleå, Sweden, a business that currently is 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).
“The innovative team at Mobilaris will play a key role as Atlas Copco further advances its digital and automation solutions, providing mining and civil engineering customers with increased safety, enhanced operational excellence and improved productivity,” said Helena Hedblom, President of Atlas Copco’s Mining and Rock Excavation Technique business area. “This is the future in mining.”
The acquisition is expected to be completed in the beginning of the third quarter 2017. 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.
Atlas Copco is an industrial group with world-leading positions in compressors, expanders and air treatment systems, construction and mining equipment, power tools and assembly systems. With innovative products and services, Atlas Copco delivers solutions for sustainable productivity. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2016, Atlas Copco had revenues of BSEK 101 (BEUR 11) and about 45 000 employees.
Atlas Copco’s Mining and Rock Excavation Technique business area provides equipment for drilling and rock excavation, a complete range of related consumables and service through a global network. The business area innovates for sustainable productivity in surface and underground mining, infrastructure, civil works, well drilling and geotechnical applications. Principal product development and manufacturing units are located in Sweden, the United States, Canada, China and India.