Mitsui & Co increases stake in Position Partners

By on 1 July, 2022

Image courtesy Position Partners

Position Partners has announced that Mitsui & Co, through its Australian and Japanese entities, has increased its investment to become the majority shareholder.

Headquartered in Tokyo, with offices in more than 60 countries, Mitsui previously invested in Position Partners in 2019, giving it a 20% share in the company.

“Since 2019, we have launched initiatives that have been fostered through the Mitsui network, notably in our mining business,” said Martin Nix, Position Partners CEO.

“Mitsui has also enabled collaborations for two of our key services: Tokara, construction site remote access and data transmission solution; and AllDayRTK, our national GPS network.”

Nix said that he expects Position Partners’ Southeast Asia and mining systems businesses to be significant beneficiaries of Mitsui’s post investment strategic support.

“Mitsui recognises that our ability to deploy solutions to sites with various types of machinery, systems and software is critical to realising the full potential of digital innovation in the construction, mining and geospatial industries,” he said.

Mitsui’s strategy in digital transformation across sectors such as construction, resources, transport, and logistics, aligns with Position Partners’ positioning systems and support expertise.

“Mitsui looks forward to building on the already strong collaborative relationship we enjoy with the Position Partners team, working together toward our shared strategic goals to accelerate digital transformation and contribute to sustainable futures,” said Koichi (Marcos) Wakabayashi, Operating Officer, Mobility Business Unit 1, Mitsui & Co Ltd.

To ensure continuity, the existing Position Partners executive team will remain in place. The Board will include three nominee directors from Mitsui.

Stay up to date by getting stories like this delivered to your inbox.
Sign up to receive our free weekly Spatial Source newsletter.

You may also like to read:


,


Newsletter

Sign up now to stay up to date about all the news from Spatial Source. You will get a newsletter every week with the latest news.

How spatial data saves time and money
MetroMap gives access to super high-resolution and accurate ...
Bennett and Bennett expands service capabilities
Bennett and Bennett selects NavVis VLX mobile scanning and d...
Q&A with FIG President, Rudolf Staiger
Staiger reflects on his four years at the helm of FIG and th...
CASA releases RPAS roadmap for the next decade
The roadmap sets out the Authority’s intended approach to ...
OGC joins new Metaverse Standards Forum
The Forum aims to foster open standards collaboration betwee...