Revolution's flagship Schedule Optimisation Tool is said to be the industry's only financial optimisation tool for underground mines that lets mine planners improve productivity and profitability by optimising the net present value of the mine schedule.
SOT came out of research by the Mining Innovation, Rehabilitation and Applied Research Corporation, a not-for-profit company of Laurentian University, Canada.
MIRARCO is known for solving complicated mining industry problems.
SOT generates life-of-mine schedules that adhere to all specified precedence and operational constraints to optimise NPV based on the user's financial model.
As part of the acquisition, RPM Global also gets Revolution's Attain and SurfaceSOT software solutions.
Attain is a software solution that ensures operational mine planning is aligned with the long-range plan.
This makes sure the company has optimised short-range schedules that are feasible and aligned with the long-range schedule.
SurfaceSOT is a solution that will work for all types of mining operations to maximise their NPV by optimising their long-range schedules, including management of stockpiles and product blending while minimising the rehandling of materials.
Buying the SOT, Attain and SurfaceSOT solutions should extend the capability of RPM Global's scheduling solutions.
RPM Global managing director and CEO Richard Mathews said RPM would invest in Revolution's scheduling optimisation tools to deliver even more innovative solutions that added real value to customers.
"RPM Global was born from the belief that mine planning needs to be built on sound economics and the Revolution Mining products strategy is completely aligned with that core value," he said.
Revolution Mining Software president Lorrie Fava said it was important RPM shared Revolution's vision because its team was passionate about the solutions it had delivered to industry.
"We look forward to joining the RPM Global team and are convinced that the Revolution Mining Software product suite will benefit from the increased investment and the sales and marketing support that RPM Global can offer these products right around the world," he said.
On completion of the transaction Revolution's employees will move into the RPM Global business.
RPM shares rose 3% to A$1, valuing the company at $224.3 million.
