On 28 July 2025, Australian listed IMDEX Limited (“IMDEX”) announced that it is acquiring the Norwegian AI-software company Earth Science Analytics (“ESA”). IMDEX will initially acquire an 80.5% controlling equity interest for a consideration of NOK 173 million, with the remaining minority shareholding to be acquired after four years.

ESA is a Norwegian software company that delivers AI-powered solutions to accelerate the digitalization of subsurface workflows. At the core of ESA’s product offerings is EarthNET.ai, a cloud-native software solution for analyzing and gaining insights throughout the whole subsurface workflow The company is based in Norway and Greece.

IMDEX is a global mining technology company, providing integrated drilling optimization products, rock knowledge sensors, and data analytics solutions for the minerals sector. The company is headquartered in Perth, Australia and is publicly listed on the Australian Securities Exchange (ASX:IMD).

The transaction will enable IMDEX to co-ordinate capabilities from existing offerings such as Datarock, aiSIRIS and Mineportal into ESA’s EarthNET platform, facilitating the creation of an open platform for all earth systems and delivering enhanced AI-enabled geoscience solutions for its customers.

For ESA, the acquisition will support growth in its existing customer base in the energy sector as well as accelerate expansion of the EarthNET platform into the minerals and mining sector. IMDEX’s global footprint will further unlock possibilities to scale ESA’s Norwegian-born software to international markets.

Dr Eirik Larsen, Chief Executive Officer, Earth Science Analytics said: “Joining forces with IMDEX marks an exciting new chapter for Earth Science Analytics. Together, we are well positioned to deliver even greater value to our customers across the energy and mining sectors. I’m deeply grateful to our talented team, whose dedication and innovation have made this milestone possible.”

Alpha Corporate Finance acted as exclusive financial advisor to the shareholders (Saudi Aramco Energy Ventures, Equinor, Sumitomo, Harbour, and the Founders) of ESA.