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.
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.
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.
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