CAE sells off mining division

CAE has sold Datamine, a mining software company, to Constellation software.

”As reported last year, we decided to sell our mining business in order to concentrate our capital investment and management resources on our three core markets: civil aviation, defence and security, and healthcare,” CAE CEO Marc Parent said.

“We are pleased that Constellation Software, a leading Canadian company specializing in vertical-market software businesses, will be leading Datamine through the next phase of its development.”

No valuation was given on the acquisition.

The buy is a major move for Constellation, and marks the company’s first foray into the sector.

"We are excited to acquire CAE's mining software business, which represents our first investment in the mining sector," John Billowits, chief executive Officer of Vela Software, said.

Datamine specialises in a number of different mining software solutions, such as exploration data management and orebody planning through to mine planning and consulting services.

 

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.