# Caterpillar acquires Minetec from Codan for US$14M

Caterpillar is buying Minetec, a provider of high-precision tracking and safety solutions for underground mines, from Codan for approximately US$14 million plus a volume-based earn-out. The sale is expected to be finalised in July 2021.

- Type: Acquisition
- Announced: 2021-06-03
- Where: Australia
- Value: $14.0M
- Status: announced
- Products: high-precision tracking solutions, productivity and safety solutions for underground mines
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Caterpillar](https://endata.com/companies/1968.md) (acquirer)
- [Minetec](https://endata.com/companies/30232.md) (target)
- [Codan](https://endata.com/companies/30233.md) (partner)

## Sources

- [miningnews.net](https://www.miningnews.net/mets/news/1411343/caterpillar-buys-aussie-business), 2021-06-02: "We believe that Caterpillar is the more appropriate owner, as they continue to be the market leading supplier to the mining industry."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.