Sandvik has signed an agreement to acquire Polymathian Industrial Mathematics, a Brisbane, Australia-based provider of advanced mine optimization software and services. Polymathian will be integrated into Digital Mining Technologies, a division within Sandvik’s Mining and Rock Solutions.
Polymathian’s solutions for automated decision-making and process optimization complements the offering of Deswik, a mine planning software company which Sandvik acquired in April. Polymathian’s product offering includes mining operations optimization and simulation software for areas such as extraction process, material flow, energy and fuel consumption and maintenance efficiency.
“Polymathian’s automated decision-making and process optimization, together with Deswik’s software tools for planning and managing production, represent a unique combination in the market,” said Stefan Widing, president and CEO of Sandvik.
Polymathian will be a part of Business Unit Deswik and remain OEM agnostic. The acquisition will enable Sandvik to further accelerate the development of its end-to-end optimization, battery-electric vehicle (BEV) and AutoMine offerings, by leveraging Polymathian’s skillset and platform.
“Polymathian is a great addition to Sandvik Mining and Rock Solutions, and enables it to now have a unique digital portfolio that will help our customers to optimize their data driven operations across the value chain and ensure their mine design is fully compatible with technologies like AutoMine and BEVs,” said Mats Eriksson, president of Sandvik Mining and Rock Solutions.
Founded in 2013, Polymathian employs 50 people and its annual revenues per June 2022 were approximately SEK 100 million ($9.5 million). The transaction is expected to close during the first quarter of 2023.