IMDEX Completes Krux Acquisition, Strengthening Drill Site Technologies and Digital Integration

About IMDEX Limited

IMDEX Limited (ASX: IMD) is a mining technology company focused on improving productivity, quality, safety and sustainability across mining and exploration. Krux adds further capability to IMDEX’s digital portfolio and supports its strategy of creating more value for drilling contractors and resource companies through smarter drill-site technologies.

Full ownership sharpens IMDEX’s digital strategy

The move is strategically important because it gives IMDEX full control of a cloud-based drilling analytics platform that already sits neatly alongside its existing digital offering. The company initially invested $6.5 million in cash for a 40 per cent equity stake in Krux in April 2023, and has now acquired the remaining interest under the mechanism agreed at that time.

That shifts Krux from being a strategic investment to a wholly owned operating platform within IMDEX. Full ownership should allow tighter integration of Krux’s analytics into IMDEX’s Drill Site Technologies business, supporting better product alignment, stronger customer delivery and a more connected digital workflow at the drill site.

Krux’s established customer base and reputation in cloud-based drilling analytics also complement IMDEX’s broader strategy of delivering more value to customers across key regions and different stages of the mining lifecycle.

Drill-site analytics become more central

The rationale for the acquisition is clear. Better capture and interpretation of rig data can improve performance, reduce downtime and support better decision-making in real time. IMDEX said full ownership of Krux will strengthen operational performance, real-time data visibility and decision-making at the drill site, allowing customers to make faster and smarter decisions.

That is increasingly valuable in mining, where drilling is both expensive and operationally critical. IMDEX Managing Director and Chief Executive Officer Paul House said combining Krux’s analytics with IMDEX’s existing solutions would help create greater efficiency, cost control and a more seamless digital experience for customers, while making drilling safer, easier and more productive.

Krux already has meaningful operating scale. IMDEX said the platform has managed more than US$3 billion in drilling spend and supported more than 17 million metres drilled since inception, underlining its relevance in the field.

Financial contribution now becomes clearer

From 1 April 2026, IMDEX will fully consolidate Krux’s profit and loss, recognising 100 per cent of its revenue and operating result. The company said Krux is expected to continue progressing toward margin contribution as integration with the Drill Site Technologies portfolio advances.

This suggests the acquisition is expected to do more than broaden the product suite. Over time, it is also intended to support earnings contribution as the platform becomes more tightly embedded within IMDEX’s operating model. The transaction was funded from existing debt facilities and completed using a pre-agreed valuation approach, indicating the pathway to full ownership had been planned from the outset.

An existing relationship supports execution

A further positive is that IMDEX and Krux have already been working together for more than three years. That lowers integration risk compared with a conventional third-party acquisition. Paul House acknowledged the work done by Krux founder Jody Conrad and her leadership team, while Krux said IMDEX brings the global reach, mining expertise and technology foundation needed to scale what has already been built.

This existing relationship matters because successful integration in mining technology depends heavily on compatibility, customer adoption and product fit. With that groundwork already in place, IMDEX appears better positioned to convert ownership into practical operating benefits.

Outlook

Looking ahead, IMDEX appears well placed to deepen its Drill Site Technologies offering through the full integration of Krux. The acquisition adds a proven drilling analytics platform, strengthens real-time data capability at the drill site and gives IMDEX full exposure to Krux’s future revenue and operating performance. While margin progression will still depend on execution, the deal strengthens IMDEX’s position as a more integrated mining technology provider across the drill site and broader mining value chain.