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Axis Mining Technology is a leader in the design, development and manufacture of specialised geospatial tools and instruments for the mining industry. The transaction included the acquisition of 100% of the share capital in the entities that own Axis Mining Technology for upfront cash consideration of $260 million and a deferred earn-out payment up to a maximum of $90 million, as well as an equity raising comprised of a fully underwritten $650 million institutional share placement and share purchase plan capped at $75 million.