# Imdex to acquire Devico for $324 million

Imdex (ASX:IMD) has entered into a binding agreement to acquire global mining-tech company Devico for an implied enterprise value of $324 million. Devico is headquartered in Trondheim, Norway, and specializes in sensor and directional drilling technologies.

- Type: Acquisition
- Announced: 2023-01-20
- Where: Trondheim, Norway
- Value: $324.0M
- Status: announced
- Products: sensor technologies, directional drilling technologies
- 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

- [mining.com.au](https://mining.com.au/imdex-enters-into-binding-agreement-to-acquire-global-mining-tech-company-devico-for-324-million/), 2023-01-20: "The proposed acquisition of Devico is consistent with Imdex's growth strategy and is a logical next step"

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