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Surpac Minex move

PERTH-BASED mining software developer Surpac Minex Group Pty Ltd is being acquired by a key competitor, Canadian mine production management solutions provider, Gemcom Software International Inc. The consideration is for up to $15.8 million in cash and up to 13.5 million shares of Gemcom. The acquisition, which is anticipated to close in July 2006 and is subject to due diligence from Gemcom, is expected to be funded through a combination of Gemcom’s existing cash resources and a new equity financing by Gemcom. “Our analysis indicates that by uniting Surpac Minex and Gemcom ... users will benefitwhich would take the new Gemcom to a clear leadership position globally in the delivery of mining software and production management solutions,” Surpac Minex chairman Tim Moore said.

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