Leading global Mining-Tech company, Imdex (ASX:IMD) has completed the acquisition of Flexidrill and its patent protected technologies, COREVIBE™ and MAGHAMMER™.
They paid 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.
IMDEX will provide an update regarding COREVIBE™ and MAGHAMMER™ with its 1H20 results announcement on 17 February 2020.
Shares in Imdex (ASX:IMD) closed flat at $1.47 on Friday.