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Orica to acquire mining technology company GroundProbe for $157m

CREDIT: ORICA Ltd

Explosives and blasting systems company Orica has signed an agreement to acquire GP Holdco (GroundProbe) from Crescent Capital Partners for A$205m ($157.12m).

GroundProbe is a provider of critical measuring technologies for the mining sector, offering geotechnical slope stability monitoring for improved mine productivity and safety.

The company’s product offering includes radar and laser-based monitoring systems, along with advanced processing and analytic software.

Orica CEO Alberto Calderon said: “The integration of GroundProbe’s market-leading technologies will further consolidate our position as the industry leader in digitally enabled blasting solutions to the mining industry, and strengthen our existing presence in the large and high growth mining and civil monitoring markets.

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