MineHub Technologies, a Canadian metals logistics platform, has agreed to acquire Waybridge Technologies with an aim to create a robust digital platform for commodity supply chains, especially in the copper industry.

Under the agreement, MineHub Technologies will pay estimated consideration of $2.5 million in the form of its shares for the purchase of the assets.

The combined entity will continue to operate under the MineHub Technologies corporate structure.

With the proposed acquisition, MineHub Technologies anticipates to increase revenue, unlock substantial operational and product synergies and minimise the timelines to profitability.

In addition, MineHub Technologies anticipates to improve operations in the top three industrial economies, namely US, China, and Japan as well as key mining jurisdictions, precisely Chile, Australia, and Canada, with an extended user base of more than 100 companies.

Waybridge Technologies, a SaaS platform, automates data connections between customers and their entire supply chains.

With more than 90 companies interacting digitally on its platform, Waybridge Technologies customers managed more than $7 billion of raw materials through the platform in 2022.

Arnoud Star Busmann — MineHub Technologies CEO said: “MineHub launched with a strong focus on connecting sales operations within mining companies to their customers for bulk commodities such as iron ore and metal concentrates.

“Waybridge started from the manufacturing side, connecting procurement operations with their metal suppliers.

“Both companies are working with industry leaders – Waybridge more focused in North America, and MineHub in Asia.

“The combination instantly realises an end-to-end global solution for the full supply chain from mine to market.”

Post-closing, MineHub Technologies is likely to retain certain employees and members of the Waybridge management team in the US and the UK.

Scott Evans — Waybridge Technologies CEO said: “MineHub and Waybridge are uniquely aligned in their vision to digitize commodity supply chains and unlock the value that technology can bring to one of the world’s most critical industries.”

  Arnoud Star Busmann, Canada, MineHub Technologies, Scott Evans, USA, Waybridge Technologies