# IMDEX to acquire Devico for A$334 million

IMDEX has entered a binding agreement to acquire Norway-based Devico AS, a provider of advanced sensors and directional drilling technologies, for A$334 million ($230 million). The deal is expected to close by late February 2023.

- Type: Acquisition
- Announced: 2023-01-19
- Where: Trondheim, Norway
- Value: $230.0M (334.0M AUD)
- Status: announced
- Products: directional drilling technologies, rock knowledge sensors
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [IMDEX](https://endata.com/companies/67982.md) (acquirer)
- [Devico AS](https://endata.com/companies/67983.md) (target)

## Sources

- [im-mining.com](https://im-mining.com/2023/01/19/imdex-aims-for-directional-drilling-leadership-with-devico-acquisition/), 2023-01-19: "Devico's flagship facility in Trondheim will become a key asset for IMDEX – providing us a new innovation and manufacturing hub for the European market."

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