Sensore boosts revenue after acquiring AI geophysics firm Intrepid

Tue 05 Jul 22, 12:17pm (AEDT)
An image depicting several raised hands holding wads of cash under a blue sky
Source: iStock

Key Points

  • Sensore has acquired like-for-like AI-based exploration software provider Intrepid Geophysics
  • Intrepid is based in Melbourne
  • Sensore sees $2m boost in annual revenue on back of the deal

Part-explorer, part-software specialist Sensore (ASX:S3N) is paying up to $5m for Melbourne-based artificial intelligence (AI) geophysics firm, Intrepid 3D, through both cash and shares.

The company expects the deal to increase its yearly revenue by $2m. 

Intrepid is a rival provider of exploration software powered by AI. 

Intrepid’s existing in-house data (and clients) will allow Sensore to better train its geological machine learning programs and mineral targeting, the two critical outcomes needed for the software to take off.

What do Intrepid do? 

Intrepid lets its AI tech loose on data collected from airborne surveys. 

The company also has other proprietary tools for gridding and interpreting geological data, as well as quality control mechanisms. 

It also dabbles in seafloor data processing, the regular processing of imaging surveys (without AI), and other imaging service applications. 

Intrepid 3D brings total count up to 5 

Sensore has now acquired five software players, with Intrepid being the latest. 

To date, it has also picked up: 

  • Moksha-EM (electromagnetic imaging disruptor) 

  • Argus (a geological 3D modelling software in of itself)

  • JetStream II (a global geospatial database) 

  • Sea-g Marine Gravity (a seafloor mapping program owned by Intrepid)

While investors can only guess as to what Sensore is planning (or phone the office and ask), it’s clear Sensore is hoping to become a leading provider of geo-data. 

Intrepid may well be the keystone needed to get that ball rolling: its existing clients include world governments, oil and gas giants, and academics. 

A look at Sensore's corporate structure
A look at Sensore's corporate structure
Sensore was a Market Index client at the time of publishing. All coverage contains factual information only and should not be interpreted as opinion of financial advice.


Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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