Empired stakes out more mining IT work

IT services firm Empired has snapped up fellow Perth firm Conducive for $7.95 million, taking in the latter's "extensive domain expertise" in the mining and resources sectors.

The ASX-listed Empired said in a statement it would issue 5 million ordinary shares and make three cash payments to close the buyout.

Two of the cash payments are subject to performance criteria being met. Empired expects Conducive to make approximately $9.5 million in revenues in full year 2013.

Empired managing director Russell Baskerville called the buy a "game changer for Empired's applications business".

"It significantly expands our capability and our addressable market for multi-year managed services contracts that we can now contest," he said.

Conducive's portfolio is also expected to be made available to existing Empired clients, with a particular emphasis on expanding the reach of "specialist services to the energy and natural resources sector".

Conducive has geological data management and modelling systems, and has been involved in mine systems integration projects as well as the development of mine scheduling and planning systems.