NACKA STRAND, Sweden — (BUSINESS WIRE) — March 21, 2016 — Regulatory News:
Hexagon (STO: HEXAB):
Hexagon AB, a leading global provider of information technologies that drive productivity and quality across geospatial and industrial enterprise applications, has entered into an agreement to acquire the GeoRadar division of the Italian-based company Ingegneria dei Sistemi S.p.A, a privately owned company with core expertise in radar-based solutions for multiple industries.
Located near Pisa, Italy, with approximately 60 employees, the IDS GeoRadar division provides the mining and geospatial industries with innovative radar solutions for structural health monitoring and underground utility mapping.
GeoRadar’s structural health monitoring solutions enable engineers to remotely monitor – in real-time – movements and vibrations of the earth such as mine walls, landslides, and glaciers, and a wide variety of infrastructures such as bridges, buildings, and dams. Its underground utility detection solutions provide engineers with dimensional information such as size and location of buried pipes and/or the health condition of roads and rail tracks through the detection of underground cracks and cavities.
“GeoRadar’s solutions nicely complement our reality capture solutions, enriching Hexagon’s portfolio across a wide variety of segments like surveying, construction and mining,” said Hexagon President and CEO Ola Rollén. “Additionally, combining GeoRadar’s technologies with our mobile reality capture portfolio broadens our solution offering for large-scale asset management across segments like utilities, road and rail.”
The transaction remains subject to customary closing conditions. Closing is expected during the second quarter of 2016. IDS GeoRadar turnover for 2015 amounted to approximately 18 MEUR.
Hexagon is a leading global provider of information technologies that drive productivity and quality across geospatial and industrial enterprise applications. Hexagon's solutions integrate sensors, software, domain knowledge and customer workflows into intelligent information ecosystems that deliver actionable information. They are used in a broad range of vital industries. Hexagon (Nasdaq Stockholm: HEXA B) has more than 16,000 employees in 46 countries and net sales of approximately 3.0bn EUR. Learn more at www.hexagon.com and follow us @HexagonAB.
This information was brought to you by Cision http://news.cision.com