ABB, the global power and automation technology group, has agreed to acquire Mincom to broaden its software portfolio and establish the Group as a market leader in enterprise asset management (EAM) software and services.
ABB is acquiring the Brisbane, Australia-based company from Francisco Partners, a private equity group that invests in technology businesses, for an undisclosed sum. The transaction is subject to customary regulatory approvals.
Mincom brings expertise and experience in a range of industries, and a comprehensive set of solutions for applications such as EAM, mining operations and mobile workforce management. Mincom has nearly 1,000 employees and annual revenues of approximately $200 million. With a distribution network in 19 countries, the company is a leading software player in the Asia-Pacific and Latin America regions, with customers including 17 of the top 20 global mining groups, as well as businesses in the energy sector, defense and other asset-intensive industries.
“The acquisition of Mincom is part of our strategy to continuously broaden our software offering," said Joe Hogan, CEO of ABB. “Mincom helps us to increase the depth of our enterprise asset management offering, building our position as a leader in the key growth sectors of natural resources and energy. For our customers this means extending the life of their infrastructure, optimizing asset management and reducing the overall cost of ownership.”
To ensure continuity for customers, ABB will retain the Mincom management team and its operations will be added to Ventyx, ABB’s dedicated software business.
The Ventyx portfolio combines information and operational technologies (IT and OT) to optimize asset performance, integrate business processes and deliver insight into global business operations.
Mincom’s strong presence in the natural resources sector is complementary to ABB’s expertise in mining control systems and its leading position in energy management technology.
“Joining forces with ABB is a logical next step in the development of our company and a strong validation of the business, our people and our products,” said Greg Clark, CEO of Mincom. “It will expand our global reach and service capabilities, enabling us to continue building on the business we have fostered over the past three decades.”