Krux develops drilling analytics software, focusing on the collection and analysis of exploration and production drilling data in real time.

Krux's software development expertise and product offering gives Imdex an opportunity to:

• Enhance its drilling data origination and analysis capabilities;
• Accelerate the development of Imdex Mobile software and the pathway for its measure while drilling offering;
• Support the digitisation of Imdex's drilling optimisation business; and
• Gain additional exposure to customers, particularly in the North American market.

Imdex and Krux are progressing negotiations with a view to formalise documentation to reflect the agreement.

They have entered into an exclusivity agreement with the aim to finalise and complete the transaction by early April.