Mitsui & Co. takes majority stake in Position Partners

Date: 04.08.2022

Sokkia iX Series

Sokkia iX Series

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

Positioning and site automation solutions company Position Partners have announced that Mitsui & Co. (Mitsui), through its Australian and Japanese entities, has increased its investment to become the majority shareholder.

Headquartered in Tokyo, Japan, with locations in more than 60 countries worldwide, Mitsui invested in Position Partners in 2019 to hold a 20% share in the company. Mitsui says their strategy to accelerate digital transformation across multiple sectors, including construction, resources, transport, and logistics, aligns with Position Partners’ positioning systems and support expertise.

"Since 2019, we’ve launched initiatives that have been fostered through the Mitsui network, notably in our mining business," says 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.

"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," Martin adds.

To ensure continuity, the existing Position Partners executive team remains. The Board will include three nominee directors from Mitsui. Key system and product suppliers have endorsed the change.

"This announcement represents an exciting next step in our company’s evolution and growth. More opportunities for customers, employees, suppliers and partners can be expected," says Martin.

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