Business
Weir completes purchase of Motion Metrics
Weir completes purchase of Motion Metrics.
About this update from Weir Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1203U\n Weir Group PLC\n 01 December 2021\n \n \n \n \n \n \n \n Weir completes purchase of Motion Metrics\n \n \n \n \n The Weir Group announces today that it has completed the previously announced acquisition of Motion Metrics, the market leading developer of innovative Artificial Intelligence and Machine Vision technology used in mines worldwide, for an initial consideration of £89m.\n \n \n \n \n \n Commenting on the acquisition, Weir Group CEO Jon Stanton said:\n \n \n \n \n \n \"I am delighted to welcome our colleagues from Motion Metrics to Weir as we combine forces to play a leading role in making mining smarter, more efficient and more sustainable. I am excited by the opportunities this acquisition brings to drive growth and accelerate our journey to include data and insight as a core offering to our customers.\" \n \n \n \n \n \n Motion Metrics becomes a part of Weir's ESCO division and will serve as a global centre of excellence for AI and Machine Vision technology in Weir, supporting the increased digitisation of the broader Weir product portfolio. \n \n \n \n \n \n A copy of the press release of 5 November 2021 relating to the announcement can be viewed at global.weir/newsroom.\n \n \n \n \n \n \n \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n \n Investors: Stephen Christie\n \n \n Media: Citigate Dewe Rogerson: \n \n \n Chris Barrie / Kevin Smith\n \n \n \n \n +44 (0) 141 308 3781\n \n \n +44 (0) 207 638 9571\n \n \n [email protected]\n \n \n \n \n \n \n About The Weir Group PLC\n \n \n \n \n \n Founded in 1871, The Weir Group PLC is one of the world's leading engineering businesses with a purpose to make its mining and infrastructure customers' operations more sustainable and efficient. Weir's highly engineered technology enables critical resources to be produced using less energy, water and waste while reducing customers' total cost of ownership. The Group is ideally positioned to benefit from structural trends that support long-term demand for its technology including the need for more essential metals to support economic development and carbon transition. The Group has c.11,000 employees operating in over 60 countries with a presence in every major mining region of th...