IMDEX has completed the full acquisition of drilling software provider Krux Analytics, expanding the company's drill-site data capture and analytics capabilities in a move that strengthens its position in the global mining technology market.
Founded in Canada, Krux has established itself as a leading provider of cloud-based drilling analytics for the mining sector. The Krux platform captures, visualizes and analyzes real-time rig data to optimize drilling performance, utilization and cost efficiency.
Paul House, IMDEX managing director and CEO, praised the collaboration that led to the acquisition.
"We've been privileged to work with the talented Krux team over the past three years, and I extend my gratitude to Krux founder Jody Conrad and her leadership team for their hard work in building Krux into the business it is today," House said.
"Combining Krux's analytics with our solutions means greater efficiency, cost control and a seamless digital experience for our customers at the drill site – making drilling safer, easier and more productive. I look forward to the full integration of Krux. Together, we'll create improved value for our combined customers, delivering real-time insights that help drillers optimise rig performance, cut downtime, and make smarter decisions."
The Australian-listed company acquired the remaining 60% equity stake in Krux overnight, bringing its total ownership to 100%. IMDEX purchased the remaining equity for approximately $23 million (CAD $22 million), using existing debt facilities to fund the transaction.
Building on previous investment
IMDEX first invested in Krux in April 2023, acquiring a 40% equity stake for $6.5 million in cash. The company completed the latest transaction according to a pre-agreed valuation approach established during its initial investment.
The acquisition aligns with IMDEX's strategy to deliver greater value to drilling contractors and resource companies through its Drill Site Technologies business across key regions and throughout the mining lifecycle.
Strategic integration benefits
Full ownership of Krux enables IMDEX to fully integrate the Canadian company's advanced drilling analytics platform with its DST business. This integration enhances operational performance, real-time data visibility and decision-making at drill sites, allowing customers to make faster, smarter decisions and realize greater value across their operations.
Krux's reputation as a leader in cloud-based analytics tools and its established customer base complement IMDEX's existing digital portfolio. The combination creates a more comprehensive offering for the mining industry.
Financial impact and timeline
IMDEX will begin full profit and loss consolidation from April 1, 2026, recognizing 100% of Krux's revenue and operating results. The company expects Krux to continue progressing toward margin contribution as integration with IMDEX's Drill Site Technologies portfolio advances.
Founder welcomes full integration
Krux Chief Executive Officer Jody Conrad expressed enthusiasm about the next phase of the partnership.
"Today's announcement is an important step forward in Krux's journey with IMDEX, which began more than three years ago," Conrad said. "IMDEX brings the global reach, mining expertise, and technology foundation needed to scale what we've built at Krux. Together, we're in a strong position to deliver real, measurable value to customers - both at the drill site today and across the broader mining value chain over time. I'm looking forward to continuing this work with the IMDEX team and our customers."
More information is available at www.Imdex.com and www.KruxanAlytics.com
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