MST Global (MST) in October announced it has entered into an agreement to acquire MISOM Technologies (MISOM), based in Tucson, Arizona, for an undisclosed fee. The move is a significant step in the progression of MST’s global digital transformation strategy.
MISOM is a software technology company with foundations in big data, mine automation services and analytics for the mining industry. MISOM’s flagship solution, FARA, brings together Internet of Things (IoT) sensors, a tablet-based mobile app and digitization concepts, such as big data and gamification, to create innovative and affordable digitization of forms and asset management systems (AMS) for both underground and open pit mining. MISOM will continue to provide data warehousing and analytics services which complement FARA’s ability to use third-party data from other vendors’ FMS solutions and equipment vendor monitoring solutions.
MST Global Chief Executive Officer, Haydn Roberts said, “The acquisition aligns with MST’s strategy of bringing digitization and IoT to mining, tunneling and construction. The innovative team at MISOM will play a key role as MST further advances these solutions, providing mining, tunneling and construction customers with increased safety, improved productivity and operational intelligence capabilities. FARA is unique in that it uses off-the-shelf smart devices to create a configurable mobile platform for workers and equipment for either surface or underground environments. The technology has the potential to be truly disruptive, taking technology which was previously cost prohibitive, and creating a simpler, more accessible solution, at a lower cost than current proprietary systems on the market. Finally, MISOM enables MST to offer a true IoT enabled solution that delivers on the promise of digitization for its customers.”
The MISOM product suite will fit well within MST’s current software and hardware solutions, including the IMPACT network suite and new FUSION platform. It further cements MST’s continuing leadership in bringing bench-mark technologies to market for the mining, tunneling and construction industries.
MISOM founder, Sean Dessureault said, “MISOM creates a platform and a support model to help mines create highly innovative and affordable systems that can improve safety and productivity. This fits perfectly with MST’s wide reach in the underground market and their latest version IMPACT solution. MST’s ambition to also support the surface market is timely due to the radical shift in technology through LTE which will now rewrite surface wireless making FARA a low-cost, low-infrastructure Fleet Management System (FMS) option for mines of any size, including quarries. The entire MISOM team is looking forward to working with MST, especially MST’s highly experienced global executive leadership team.”
Dessureault will continue with MST in an innovation and product leadership role going forward.