Qmastor buys Canadian mining software company

Specialist commodity industry software and services company Qmastor has signed a binding agreement to buy Canada's Algosys.

The Quebec software maker specialised in metals accounting software for base and precious metals such as gold, copper and zinc; areas the NSW supply-chain software maker hoped to tap.

Qmastor could now reach to the Americas while Algosys gained exposure in Australia, Asia and Africa.

Under the terms of arrangement expected for completion by December 1 Qmastor will buy all Algosys' shares on issue for up to $C5 million ($A5.02 million).

Qmastor managing director Trent Bagnall said Algosys provided the Australian business with access to "new markets and customers" while dovetailing with its products and customers.