ESA deal small but strategic move by Australia's Imdex, Jefferies says

Imdex

28/07/2025 20:35

** Analysts at Jefferies say acquisition of 80% stake in Norway-based Earth Science Analytics AS by Australia's Imdex IMD.AX is small but a strategically important deal

** The mining services provider, on Monday, said it would buy 80% in Earth Science for A$26 million ($17.1 mln), sending its shares about 3% higher

** Brokerage flags deal is consistent with co's strategy on continuously expanding digital orebody intelligence capabilities

** Jefferies notes ESA's platform is AI-driven and geoscientific, while recording A$4 mln in revenue and is EBITDA breakeven

** The integration of ESA will allow IMD to bring together tools like Hub-IQ, Datarock under the EarthNET platform, creating an open, AI-powered system for advanced geoscience solutions - Jefferies

** Brokerage has A$2.75 PT and a "hold" rating on the stock

** Four of nine analysts rate the stock "buy" and five "hold"; their median PT is A$2.90 – according to data compiled by LSEG

** Stock up 28.5% YTD

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com;))