Komatsu acquires Australian fleet management systems company

Komatsu Australia has announced the acquisition of iVolve Pty Ltd, a company specialising in fleet management systems for the mining and quarry industry, in a move that will enable iVolve to reach a broader global market.

iVolve provides fleet management solutions for small to mid-tier miners, contractors, and quarries that help businesses and operators visualise operation information, reduce running costs, and promote safe operations through access to real-time data. The company has achieved considerable success in the Australian and North American markets.

Komatsu, on the other hand, has been providing fleet management solutions to large-scale mines via its wholly owned subsidiary, Modular Mining Systems, in addition to Smart Construction for the civil construction industry.

Through this acquisition, Komatsu hopes to fill the gap in its offerings and globally deploy iVolve's products, which has a unique IoT platform, as a new solution to further contribute to improving safety and productivity at customers' workplaces.

iVolve said the acquisition marks a significant milestone for the company as Komatsu is recognised as a key player in the fleet management space and the acquisition reflects the business’s belief in the potential of iVolve.

"We are thrilled to become part of the Komatsu family," said CEO and co-founder of iVolve, Kim Parascos.

"We have enjoyed a long working relationship with Komatsu and believe this agreement aligns with our goals and vision, and importantly, the resources of Komatsu will help us achieve our growth goals.

"As a Komatsu brand, we aim to widen our market presence, elevate our product line, and preserve flexibility for our customers. Our existing customers will also benefit from this new alignment, as we leverage the expertise, commitment and reach of Komatsu to improve our offering.

“iVolve will continue to offer solutions on a wide range of platforms in support of their expanding customer base. iVolve was founded on the core values of “Simple, Intelligent, & Commitment” and this continues to drive everything we do. We will foster our brand and culture through this new phase of our development.”

“Australia is renowned as a global centre of excellence for mining, quarrying and construction technology,” said Komatsu Australia CEO, Sean Taylor.

“This acquisition will provide global scale for iVolve and enable the ongoing development of iVolve’s products and solutions into the future.”

Following the acquisition, iVolve co-founders Kim Parascos and David Eagles will continue in their current roles as CEO and CTO respectively to ensure continuity in product development and customer relationships.

"We are poised for an exciting future, leveraging Komatsu's global resources and network to take iVolve’s systems further into the international market,” Taylor said.