IN BRIEF: Weir completes acquisition of mining software firm Micromine

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Weir Group PLC - Glasgow-based engineering company - Completes acquisition of Mining Software Holdings Pty Ltd, which trades as Micromine, for enterprise value of £624 million. Micromine is a Perth, Australia-based software provider to the mining industry. Weir says current Micromine Chief Executive Officer Andrew Birch will remain with Weir for up to a year to support Kristen Walsh, who will become president of the Digital Solutions division, which includes Micromine. Weir says it intends to combine Micromine with Motion Metrics and Next intelligent solutions in the future.

‘Micromine is a high performing, high growth business of scale, and is a natural and complementary fit for Weir,’ says Chief Executive Officer Jon Stanton.

Current stock price: 2,224.00 pence, down 0.7% on Wednesday morning in London

12-month change: up 8.5%

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