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RUNGEPINCOCKMINARCO Limited (ASX:RUL) has entered an agreement to acquire FlexSim Software Products in Utah.
The mining consultancy will be able to rebrand, commercialise and further develop the simulation software code as part of the acquisition.
FlexSim products are designed to simulate systems used in a wide range of industries, including manufacturing, material handling, healthcare, warehousing and logistics.
The software enables users to test a number of variables to determine its impact on a system, to enhance performance and reduce costs.
RungePincockMinarco (RPM) plans to utilise its capabilities within the mining industry, including oil sands, advisors and aggregates and original equipment manufacturers.
The business has been working with FlexSim since early last year, after incorporating technology to model complex mine haulage systems in an interactive 3D format.
RPM CEO and managing director Richard Mathews says the deal will utilise a new revenue stream for the company, as well as invaluable technology.
"This acquisition supports both our enterprise and simulation software strategies," Mathews says.
"FlexSim's reputation in the world of simulation is second to none so we are delighted with this major advancement in our software strategy.
"There is no doubt that our products are becoming more competitive and that our focus on moving technical mining products off the desktop and up into the enterprise is bearing fruit."
The simulation engine will also be embedded into the next major release of RPM's mine planning program XECUTE.Get our daily business news
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