imdex Completed full acquisition of drilling software provider Crocs Analyticswhich expands the company’s capabilities in capturing and analyzing drilling site data in a move that strengthens its position in the global mining technology market.
Founded in Canada, Krux has established itself as a leading provider of cloud-based drilling analytics for the mining industry. The Krux platform captures, visualizes and analyzes real-time drilling data to optimize drilling performance, utilization and cost efficiency.
Paul House, Managing Director and CEO of IMDEX, praised the collaboration that led to the acquisition.
“We have been honored to work with the talented Krux team over the past three years, and I would like to express my gratitude to Krux founder Jodi Conrad and her leadership team for their hard work in building Krux into the business it is today,” House said.
“Combining Krux analytics with our solutions means greater efficiency, cost control and a seamless digital experience for our customers on the drilling site – making drilling safer, easier and more productive. I look forward to the full integration with Krux. Together, we will create enhanced value for our joint customers, delivering real-time insights that help drillers improve rig performance, reduce downtime and make smarter decisions.”
The Australian-listed company acquired the remaining 60% equity stake in Krux overnight, bringing its total ownership to 100%. IMDEX purchased the remaining shares for approximately $23 million ($22 million CAD), using existing debt facilities to finance the deal.
Building on previous investment
IMDEX first invested in Krux in April 2023, acquiring a 40% equity stake for $6.5 million in cash. The company completed the latest transaction in accordance with the pre-agreed valuation approach established during its initial investment.
The acquisition is consistent with IMDEX’s strategy to deliver greater value to drilling contractors and resource companies through its Drill Site Technologies business across key regions and throughout the mining lifecycle.
Benefits of strategic integration
Full ownership of Krux allows IMDEX to fully integrate the Canadian company’s advanced drilling analytics platform with its DST business. This integration improves operational performance, real-time data visibility and decision-making at drilling sites, allowing customers to make faster, smarter decisions and drive greater value across their operations.
Krux’s reputation as a leader in cloud analytics tools and its established customer base complement IMDEX’s existing digital portfolio. This combination creates a more comprehensive view of the mining industry.
Financial impact and timeline
IMDEX will begin fully consolidating its P&L effective April 1, 2026, recognizing 100% of Krux’s revenues and operating results. The company expects Krux to continue to move toward margin contribution as integration with IMDEX’s Drill Site Technologies portfolio progresses.
The founder welcomes the full integration
Jody Conrad, CEO of Krux, expressed his excitement about the next phase of the partnership.
“Today’s announcement is an important step forward in Crocs’ journey with IMDEX, which began more than three years ago,” Conrad said. “IMDEX provides the global reach, mining expertise and technology foundation needed to scale what we have built at Krux. Together, we are in a strong position to deliver real, measurable value to customers – both at the drill site today and across the broader mining value chain over time. I look forward to continuing this work with the IMDEX team and our customers.”
More information is available at www.imdex.com and www.KruxanAlytics.com
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