Currently viewing Global edition

Sandvik acquires Newtrax

Sandvik’s acquisition of privately-owned Canadian firm Newtrax, and Jolimont Global Mining Systems’ exit five years after it invested in the fast-growing mining technology company, adds to the M&A outbreak gathering pace in the mintech area.

Sandvik acquires Newtrax Sandvik acquires Newtrax Sandvik acquires Newtrax Sandvik acquires Newtrax Sandvik acquires Newtrax

Sandvik buys Newtrax: More mining tech deals are brewing

Newtrax's annual revenues have grown fivefold in the past five years to circa US$20 million, making it a sizeable player in an expanding underground hard-rock mine wireless IoT market.