FOR IMMEDIATE RELEASE
Komatsu acquires iVolve Pty Ltd in strategic move
Brisbane, QLD, Australia, 01 December 2023
iVolve Pty Ltd, a leader in the provision of fleet management systems for the mining and quarry industry, has been acquired by Komatsu, in a move that will enable the brand to reach a broader global market and grow its footprint.
The acquisition, through Komatsu’s wholly owned subsidiary in Australia, marks a significant milestone for the company. Komatsu is recognised as a key player in the fleet management space and this strategic acquisition reflects the business’s belief in the potential of iVolve.
"We are thrilled to become part of the Komatsu family," said Kim Parascos, CEO and co-founder of iVolve. "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 our 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.
Komatsu Australia CEO, Sean Taylor added that “Australia is renowned as a global centre of excellence for mining, quarrying and construction technology. This acquisition will provide global scale for iVolve and enable the ongoing development of iVolve’s products and solutions into the future”.
iVolve co-founders Kim Parascos and David Eagles will continue in their current roles as CEO and CTO respectively, ensuring 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".
For more information about Komatsu and our journey ahead, please contact:
Debi Parascos Belinda Zaidan
Growth Manager Head of Marketing
iVolve Pty Ltd Komatsu Australia
iVolve® is an Australian-based company offering technology and tools to mine and quarry owner-operators and contractors, helping them enhance efficiency in an increasingly competitive market. By providing real-time data access from mobile assets, IVolve enables customers to make informed decisions for day-to-day operations and strategic planning.
Founded in 1995 by David Eagles (CTO) and Kim Parascos (CEO), iVolve currently works with customers on more than 40 sites in Australia, North America, and Europe, with planned expansion into west Africa, Indonesia and central America.
About Komatsu Australia
Komatsu provides essential equipment, technologies and services to the construction, mining, energy, government, waste and quarry industries. The company purpose is creating value through manufacturing and technology innovation to empower a sustainable future where people, businesses and our planet thrive together.