Zyfra, a Renova subsidiary that develops IIoT and AI industrial solutions, is to fully acquire Vist Group, a 28-year-old developer of solutions for digital mining, metal and other enterprises.
Zyfra will spend 2 billion rubles (around $30 million at the current exchange rate) on the acquisition, according to Vedomosti, which cites exchanges with representative of both companies.
Implemented in three stages, the deal will be closed “by the end of 2020,” reported the business daily.
VIST Group presents itself as a leader in the deployment of mine fleet management systems in Russia and North Africa. “We successfully implement our systems for mining industry across broad industrial mining enterprises throughout Africa, Central Asia, Russia and Middle East.”
For the last five years, the company has been investing in such advanced technologies as autonomous dump trucks, autonomous drilling rigs, and predictive analytics for mining applications.
“We believe that autonomous vehicles is the key of innovations in mining industry,” the company states.
