Santiago, Chile-based IOT Chile has been acquired by Australian mining technology company, Vayeron in a deal that gives Vayeron, a Mackay, Queensland-based business an immediate and direct entry into South American markets such as Chile and Peru. The acquisition closed on December 31, 2022 and sees Vayeron bring on board the small but skilled and dedicated team from IOT Chile as well as their existing mining client contracts for the supply and implementation of Vayeron’s conveyor condition monitoring technology, Smart-Idler® -an industrial IoT monitoring solution for critical conveyors, aimed at reducing operational risk and optimising conveyor maintenance practices.

Along with IOT Chile’s contracts held with major South American mining companies, the deal also sees the existing IOT Chile team of mining sales professionals join the Vayeron team. IOT Chile Director, Ian Streeter commented: “By joining forces with Vayeron, we are now able to increase our distribution efficiency and reduce our product supply lead times by holding a larger volume of stock directly in country for immediate dispatch to our roller manufacturing customers in South America. Over the coming months we will be increasing our local inventory so that our customers can gain immediate access to Vayeron’s leading conveyor monitoring technology. We are now also able to offer our customers more flexibility in the service offering we provide, and this should translate to a very attractive value proposition for our end-user customers.”

This acquisition represents the first M&A activity for fast growing Vayeron who are accelerating the global take-up of their innovative industrial solutions such as the Smart-Idler solution for conveyors and the xBud™ platform, an industrial IoT self-help technology to unlock user-defined digitalisation potential in niche applications not ‘addressed’ by the incumbents. Vayeron now manufactures its proprietary technologies in-house in Mackay, Queensland and after investing to diversify its supply chain and onshore the manufacturing of its product lines has commissioned state of the art equipment at its premises in Mackay to conduct electronic PCB production and full end-to-end sensor assembly and completion.

With Santiago on a 13-hour time zone offset with Brisbane, Vayeron is also now equipped to operate 24/7 and service customers around the clock. Vayeron CEO, Ryan Norris said: “This exciting next step in the relationship between Vayeron and IOT Chile is one which has always felt like it would be an obvious fit, right from the beginning of our relationship with the IOT Chile team starting back in early 2019. The IOT Chile team have done a phenomenal job in commercialising our technology in Chile and have developed a solid brand for Vayeron in Chile. It makes perfect sense to bring them in under our roof and together, tackle the South American market directly with all the efficiencies and benefits that come from now being operative in marketwithout an intermediary.”