Almi Invest's portfolio company Minalyze is being acquired by Veracio.
Almi Invest sells its entire holding (28%) in the Gothenburg-based mining tech company Minalyze as the company is fully acquired by industry colleague Veracio. Through the merger, the companies form a powerful player in innovative mining technology.
Almi Invest is proud to announce that our portfolio company, Minalyze, a world-leading player in XRF core scanning instruments and geological data visualization, is being acquired by Veracio, a wholly-owned subsidiary of Boart Longyear Group Ltd listed on The Australian Securities Exchange (ASX). The transaction liquidity amounts to SEK 326 million and marks a significant milestone for both companies.
Minalyze is a pioneer in the development of core sample scanning instruments and software for visualizing geological data and has customers in Europe, Australia, Africa, and North America. Veracio, with its expertise in artificial intelligence and advanced analysis solutions, sees in the acquisition of Minalyze an opportunity to continue revolutionizing how the mining industry captures, analyzes, and interprets geological information.
Annelie Lundström and Mikael Arthursson, co-founders of Minalyze, will continue their work in leading positions within Veracio and the entire Minalyze team will be partof Veracio's operations.
Almi Invest invested in Minalyze as early as 2011 and has since then been an active owner in the company.
"I feel both proud and impressed by what Annelie and Mikael with the team have created in Minalyze," says Kajsa Gustafsson, Investment Manager at Almi Invest. "They have worked hard and committed for many years to get a rigid industry to change its way of analyzing drill cores. This deal is a testament to their successful realization of their vision and I look forward to seeing them continue their journey together with a strategically important player in the market."