July 8, 2019
Menlo Park, CA – GrowthPoint is pleased to announce that our client, Immersive Technologies Pty Ltd, a provider of mining simulators and workforce management solutions, has been acquired by Komatsu Ltd. GrowthPoint acted as the exclusive financial advisor to Immersive Technologies, headquartered in Perth, Australia.
Immersive Technologies specializes in improving mine profitability by optimizing the safety and productivity of equipment operators. The company develops, manufactures and sells mining equipment simulators for surface and underground machines. The company also offers training programs designed to enhance the safety and productivity of customers’ site operations using simulators and other training solutions.
“We are very pleased to welcome Immersive Technologies into the Komatsu group. We look forward to working together with Immersive Technologies to enhance Komatsu’s mining business and continue the success in its multiple-OEM simulator strategy,” Komatsu Mining chairman Masayuki Moriyama said.
“This acquisition represents the start of the next phase of Immersive Technologies’ evolution. We now have the opportunity to contribute to the realization of Komatsu’s strategy for mining, whilst also leveraging Komatsu’s vast support network and advanced technology portfolio. This includes closer collaboration with other well-known mining technology companies owned by Komatsu,” said Peter Salfinger, CEO and Co-founder.
“We have been particularly impressed by Komatsu’s bold vision for the future of mining and their proactive steps to pursue it. We are very pleased that Komatsu sees Immersive Technologies as having an important role in this future. Further, we see Komatsu’s high level of customer focus, which supports collaboration between competing mining suppliers, to benefit mining customers, as being highly aligned to Immersive Technologies’ business,” said Wayde Salfinger, Executive Director and Co-founder.
“The simulation and workforce optimization markets represent a growing focus for GrowthPoint, and we are excited to announce Immersive Technologies’ acquisition by Komatsu. With 26+ years of experience, simulator modules deployed in 44+ countries and 150,000+ equipment operators trained, Immersive Technologies is the category leader in simulation and workforce optimization for the mining industry. We are pleased to have helped the Immersive Technologies’ team reach a successful outcome” said Robert Horstmeyer, Managing Director at GrowthPoint.
For more information on this deal, please read here.