Perenti Global Limited has launched idoba, a new capital light technology-driven service offering available to the mining and resources industry. idoba is also expected to add value to Perenti's current suite of global mining service offerings. The Company is also pleased to provide a market update outlining Perenti's strong unaudited cash position and expansion of both work in hand and tender pipeline at the financial year ending 30 June 2021. In March 2019, Perenti published its 2025 Strategy, outlining five strategic pillars to guide business planning, shape the evolution of the company and develop the service offerings available to clients. The five pillars include: Operational Excellence; Strategic Growth; Organisational Health; Technology Driven Future; and Building Financial Capacity.
Since its release, there has been significant progress made across all pillars, including building the foundations for a technology driven services model.
In July 2020 Perenti acquired Sandpit Innovation and Improvement Resources ("ImpRes") and in April 2021 Optika Solutions was also acquired. The total cost of these acquisitions was approximately $13 million and includes: - strong history of revenue generation, with a combined average annual revenue of ~$13m over the
past several years; - broad and high quality client base; - significant talent with unique and deep experience across technology and innovation; and - a platform for further growth leveraging existing digital systems and processes. idoba is the culmination of Perenti's strategic technological growth which, in addition to supporting the Perenti business, will provide digital product and technology service offerings to the mining industry with revenue and earnings generated from these services.