Australian mining software developer RPMGlobal announced it has been acquired by heavy equipment giant Caterpillar for an equity price of AUD$1.12 billion ($730.5 million).
In early September, the American company, one of the world's largest manufacturers of construction and mining equipment, offered to buy the Australian company for AUD$5 per share. Following this news, RPM shares jumped to a high of around AUD$4.80, but last traded at AUD$4.75.
RPMGlobal remains the last remaining mining software company in Australia. Previously, competitor Micromine was acquired by British Weir Group for AUD1.3 billion ($847.9 million), marking the end of an era for Australian mining technology players.
The deal will be reviewed by the Foreign Investment Review Board and the Australian Competition Authority, and will also require approval from RPMGlobal shareholders.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
