Hexagon AB

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Hexagon AB is a multinational industrial technology company.[1] Headquartered in Stockholm, Sweden,[2] and publicly traded on the Nasdaq Stockholm exchange,[3] the company since 2000 has had a particular focus on measuring technology[4] and geospatial tools and software.[2] After its founding, between 2000 and 2022, Hexagon completed more than 170 acquisitions,[5] and it is the parent company of Leica Geosystems[6] and Infor EAM, among other subsidiaries.[1] With around 24,000 employees, Hexagon's revenue in 2023 was US$5.5 billion, while assets were $18.1 billion.[2]

History

1975–2012

Headquartered in Stockholm, Sweden, the predecessor company of Hexagon AB was founded on August 29, 1975.[2] The company was described as a "sprawling conglomerate" investing in diverse industries, for example seafood imports, vehicle hydraulics, and day-care centers. Financier Melker Schörling bought a controlling stake in the company in 1998, and aimed to focus the company's investments.[7]

In 2000,[8]Ola Rollén,former CEO of Kanthal,was appointed by Schörling to be CEO of Hexagon AB. The company began acquiring companies focused on precision measurement technology and software, and divesting in other areas.[7] In late 2001,Hexagon AB agreed to buy Brown & Sharpe, a Swedish company focused on metrological tools, for around US$180 million.[4] Hexagon AB also acquired Leica Geosystems[7] after counter-bidding against Danaher for the company in 2005.[6] Hexagon AB acquired the Israel-based 3D optics company CogniTens Ltd in 2007.[9] The software company Intergraph was acquired by Hexagon AB in July 2010 for US$2.1 billion.[10]

2013–2021

Hexagon AB acquired Vero Software in 2014.[11] In 2016, the top five shareholders in Hexagon included Schörling, Ramsbury Invest, SSB CI Omnibus, Swedbank Robur Fonder and JPM Chase. Schorling served as chairman,[3] although he stepped down in October 2016 due to health issues.[12] Hexagon purchased MSC Software for US$834 million in 2017, using the acquisition to boost its portfolio of products related to automated manufacturing.[13]In 2018, Hexagon acquired both AGTEK[14] and Spring Technologies SAS.[15]

In 2016, Hexagon's CEO Ola Rollén was detained in Sweden over allegations of insider trading. The transaction did not involve Hexagon and he continued to serve as CEO of Hexagon. Rollén was acquitted in 2018,[16] then again found not guilty by an Oslo appeals court in 2019.[8] Hexagon acquired Infor EAM, a program developed by Infor, from Koch in 2021. Hexagon paid US$800 million in cash and shares worth $1.95 billion for the purchase, giving Koch a 5% stake in Hexagon.[1]

2022–2025

Ola Rollén stepped down as Hexagon CEO at the end of 2022, becoming chairman of the board. Former COO Paolo Guglielmini became president and CEO.[17] Hexagon purchased Hard-Line, a radio system company based in Ontario, in July 2023,[18] and in November 2023, Hexagon led a US$230 million funding round in the industrial AI company Divergent Technologies.[19] Hexagon's revenues in 2023 were US$5.5 billion. Assets were $18.1 billion, profits were $1.1 billion, and the company listed 24,000 employees[2] in 50 countries.[20]

On November 11, 2024, it was announced that Paolo Guglielmini was stepping down as CEO and that Norbert Hanke would be serving as interim CEO. Hexagon also announced its exploration of a possible split of the company into Hexagon AB and a new corporation, which would focus on Enterprise Industrial Software. On the 20th of January the following year Hexagon announced that Anders Svensson would take over the position of President and CEO.[21]

Products and services

Hexagon is a technology and software firm[13]known for specializing in measurement and positioning systems.[2][16] According to Reuters in 2023, Hexagon's products are used for "measurement and quality inspection in manufacturing processes and engineering plant design, as well as in infrastructure planning, construction, mining, agriculture and energy."[22] With Hexagon developing what it calls "ecosystems" of software programs and technologies for specific purposes, in 2023, the company's official website stated it sold products catered to the following industries: autonomous mobility, buildings, cities and nations, defense, farms, industrial facilitates, infrastructure, manufacturing, and mines.[23]Template:Primary source inline

Divisions

Hexagon AB is organized into divisions, listing five internal divisions on its website: Asset Lifecycle Intelligence, Autonomous Solutions, Geosystems, Manufacturing Intelligence, and Safety, Infrastructure & Geospatial.[24]Template:Primary source inline

List of acquisitions and subsidiaries

Script error: No such module "Unsubst".Between 2000 and 2022, Hexagon completed more than 170 acquisitions.[5] The following table lists major acquisitions by year, also noting the division of Hexagon AB that the acquisition was made a part of.

Year Company Country Hexagon divisionTemplate:When
2000 Cubic-Tavleproduktion Template:Country data Denmark
2000 Wilcox & Associates Template:Country data US Manufacturing Intelligence
2000 HTR Hydrauliikka Template:Country data Finland
2001 Brown & Sharpe[4] Template:Country data US Manufacturing Intelligence
2002 MIRAI S.R.L Template:Country data Italy
2002 Quality Ltda Template:Country data Brazil
2002 CE Johansson Template:Country data Sweden Manufacturing Intelligence
2002 Xygent Template:Country data US Manufacturing Intelligence
2002 GFD Technology Template:Country data Germany
2004 Korea ErFa Systems Eng – Business Template:Country data South Korea
2004 Romer Template:Country data France Manufacturing Intelligence
2004 GPD Sprl – Assets Template:Country data Italy
2004 Thona Group Template:Country data Belgium
2005 Trostel SEG Template:Country data US
2005 Leica Geosystems[6] Template:Country data Switzerland Geosystems
2006 Mikrofyn Template:Country data Denmark Geosystems
2007 Gesswein Template:Country data Germany
2007 Agatec SAS Template:Country data France
2007 Jingjiang Measuring Tool Company Template:Country data China Manufacturing Intelligence
2007 Transmetal Template:Country data Turkey
2007 Allen Precision Equipment Template:Country data US Geosystems
2007 NovAtel Template:Country data Canada Autonomy & Positioning
2007 Elcome Technologies Template:Country data India Geosystems
2007 Gold Key Processing Template:Country data US
2007 Ionic Software Template:Country data Belgium
2007 Earth Resource Mapping Template:Country data Australia
2007 GAMFI International Template:Country data France
2007 Svensk ByggnadsGeodesi Template:Country data Sweden Geosystems
2007 CogniTens Ltd[9] Template:Country data Israel Manufacturing Intelligence
2008 Messtechnik Wetzlar Template:Country data Germany Manufacturing Intelligence
2008 Santiago & Cintra Ibérica Template:Country data Spain
2008 m&h Group Template:Country data Germany Manufacturing Intelligence
2008 Viewserve Template:Country data Sweden Geosystems
2008 Serein Metrology Template:Country data US Manufacturing Intelligence
2009 Technodigit Template:Country data France Manufacturing Intelligence
2009 Mahr Multisensor GmbH Template:Country data Germany
2009 MYCRONA GmbH Template:Country data Germany
2010 Intergraph[10] Template:Country data US Safety, Infrastructure & Geospatial/
Asset Lifecycle Intelligence
2012 Microsurvey Template:Country data Canada Geosystems
2012 myVR Template:Country data Norway CORP
2012 GTA Geoinformatik Template:Country data Germany
2013 Pixis Template:Country data Chile Asset Lifecycle Intelligence
2013 Airborne Hydrography AB Template:Country data Sweden Geosystems
2013 Devex Template:Country data Brazil Mining
2013 Navgeocom Template:Country data Russia Geosystems
2013 LISTECH Template:Country data Australia Geosystems
2013 New River Kinematics (NRK) Template:Country data US Manufacturing Intelligence
2013 MANFRA Template:Country data Brazil Geosystems
2014 Veripos Template:Country data UK[25] Autonomy & Positioning[26]
2014 Aibotix Template:Country data Germany Geosystems
2014 HostSure Template:Country data Ireland Asset Lifecycle Intelligence
2014 iLab Template:Country data Brazil VEN
2014 Mintec Template:Country data US Mining
2014 North West Geomatics Ltd. (North West Group) Template:Country data Canada Geosystems
2014 SAFEmine Template:Country data Switzerland Mining
2014 Arvus Template:Country data Brazil iHub
2014 Vero Software[11] Template:Country data UK Manufacturing Intelligence
2015 EcoSys Template:Country data US Asset Lifecycle Intelligence
2015 Q-DAS Template:Country data Germany Manufacturing Intelligence
2015 CAMTECH GmbH & Co KG Template:Country data Germany Manufacturing Intelligence
2016 Apodius GmbH Template:Country data Germany Manufacturing Intelligence
2016 Forming Technology, Inc. Template:Country data Canada Manufacturing Intelligence
2016 Multivista Template:Country data US Geosystems
2016 SigmaSpace Corporation Template:Country data US Safety, Infrastructure & Geospatial
2016 SCCS Survey Template:Country data UK Geosystems
2016 AICON 3D Systems Template:Country data Germany Manufacturing Intelligence
2016 NESTIX Oy Template:Country data Finland Asset Lifecycle Intelligence
2017 Catavolt, Inc Template:Country data US VENT
2017 Luciad Template:Country data Belgium Safety, Infrastructure & Geospatial
2017 MiPlan Template:Country data Australia Mining
2017 MSC Software[13] Template:Country data US Manufacturing Intelligence
2017 VIRES GmbH Template:Country data Germany Manufacturing Intelligence
2017 DST Computer Services Template:Country data Switzerland Asset Lifecycle Intelligence
2018 AGTEK[14] Template:Country data US Geosystems
2018 AutonomouStuff Template:Country data US Autonomy & Positioning
2018 Bricsys Template:Country data Belgium Asset Lifecycle Intelligence
2018 Guardvant Template:Country data US Mining
2018 Nextsense Template:Country data Austria Manufacturing Intelligence
2018 Spring Technologies SAS[15] Template:Country data France Manufacturing Intelligence
2019 J5 International Template:Country data Isle of Man Asset Lifecycle Intelligence
2019 Etalon AG Template:Country data Germany Manufacturing Intelligence
2019 Thermopylae Sciences & Technology LLC Template:Country data US GSP
2019 Split Engineering Template:Country data US Mining
2019 AMendate Template:Country data Germany Manufacturing Intelligence
2019 Volume Graphics Template:Country data Germany Manufacturing Intelligence
2020 Blast Movement Technology (BMT) Template:Country data Australia Mining
2020 Geopraevent Template:Country data Switzerland Geosystems
2020 Romax Template:Country data UK Manufacturing Intelligence
2020 PAS Global Template:Country data US Asset Lifecycle Intelligence
2020 Tacticaware Template:Country data Czech Republic Geosystems
2020 ESPRIT CAM Template:Country data US Manufacturing Intelligence
2020 CAEfatigue Template:Country data UK Manufacturing Intelligence
2020 OxBlue Template:Country data US Geosystems
2021 Infor EAM[1] Template:Country data US Asset Lifecycle Intelligence
2021 Immersal Template:Country data Finland Geosystems
2021 CADLM Template:Country data France Manufacturing Intelligence
2022 ETQ Template:Country data US Manufacturing Intelligence[27]Template:Better source needed
2022 Innovatia Accelerator[28]Template:Better source needed Template:Country data Canada Asset Lifecycle Intelligence
2022 Minnovare Template:Country data Australia Mining[29]Template:Better source needed
2022 iConstruct Pty Ltd Template:Country data Australia Asset Lifecycle Intelligence[30]Template:Better source needed
2022 PDSA Company Limited Template:Country data Ghana Geosystems
2023 Qognify[31] Template:Country data US Safety, Infrastructure & Geospatial[32]
2023 CADS Additive Template:Country data Austria Manufacturing Intelligence[33]Template:Better source needed
2023 Projectmates Template:Country data US Geosystems[34]Template:Better source needed
2023 Hard-Line[18] Template:Country data Canada Mining[35]
2024 Xwatch Template:Country data UK Geosystems[36]
2024 Itus Digital Template:Country data US Asset Lifecycle Intelligence[37]
2024 Voyansi Template:Country data US Geosystems[38]
2024 indurad Template:Country data Germany Autonomous Solutions[39]
2025 Septentrio Template:Country data Belgium Autonomous Solutions[40]
2025 CONET Communications GmbH Template:Country data Germany Safety, Infrastructure & Geospatial[41]

See also

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References

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External links

Template:Hexagon AB Template:OMX Stockholm 30 companies Template:OMX Nordic 40 Template:Authority control

  1. ↑ a b c d Cite error: Invalid <ref> tag; no text was provided for refs named 1:4:Reuters:07:2021
  2. ↑ a b c d e f Cite error: Invalid <ref> tag; no text was provided for refs named 0:1:Forbes:12:2023
  3. ↑ a b Cite error: Invalid <ref> tag; no text was provided for refs named 0:7:Reutersr:11:2016
  4. ↑ a b c Cite error: Invalid <ref> tag; no text was provided for refs named 1:3:NewYorkTimes:11:2000
  5. ↑ a b Annual Report 2022, Hexagon
  6. ↑ a b c Cite error: Invalid <ref> tag; no text was provided for refs named 0:12:NewYorkTimes:08:2005
  7. ↑ a b c Cite error: Invalid <ref> tag; no text was provided for refs named 0:31:Reuters:03:2013
  8. ↑ a b Cite error: Invalid <ref> tag; no text was provided for refs named 0:6:Reuters:06:2019
  9. ↑ a b Cite error: Invalid <ref> tag; no text was provided for refs named 0:13:Flogbes:2007
  10. ↑ a b Cite error: Invalid <ref> tag; no text was provided for refs named 0:14:Reuters:2010
  11. ↑ a b Cite error: Invalid <ref> tag; no text was provided for refs named 1:8:Reuters:07:2014
  12. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named 0:10:Reuters:11:2016
  13. ↑ a b c Cite error: Invalid <ref> tag; no text was provided for refs named 0:30:Reuters:Feb:2017
  14. ↑ a b Cite error: Invalid <ref> tag; no text was provided for refs named 1:5:Reuters:03:2018
  15. ↑ a b Cite error: Invalid <ref> tag; no text was provided for refs named 1:7:LesEchos:04:2019
  16. ↑ a b Cite error: Invalid <ref> tag; no text was provided for refs named 0:9:FT:01:2018
  17. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named 1:2:Reuters:06:2022
  18. ↑ a b Cite error: Invalid <ref> tag; no text was provided for refs named 0:19:CBC:07:2023
  19. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named 0:20:LABusinessJournal:11:2023
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  26. ↑ Script error: No such module "citation/CS1".
  27. ↑ Hexagon completes the acquisition of ETQ, Hexagon
  28. ↑ Hexagon furthers its commitment to innovation in the Operations & Maintenance (O&M) segment with the acquisition of Innovatia Accelerator, Hexagon
  29. ↑ Hexagon strengthens its life-of-mine solutions portfolio with the acquisition of Minnovare, Hexagon
  30. ↑ Hexagon expands its Smart Digital Reality capabilities across the construction sector with the acquisition of iConstruct, Hexagon
  31. ↑ Script error: No such module "citation/CS1".
  32. ↑ Script error: No such module "citation/CS1".
  33. ↑ Hexagon enhances its additive manufacturing solutions with the acquisition of CADS Additive, Hexagon
  34. ↑ Hexagon strengthens its construction software offering for asset owners with the acquisition of Projectmates, Hexagon
  35. ↑ Hexagon strengthens its mining automation and safety solutions with acquisition of HARD-LINE, Hexagon
  36. ↑ Hexagon acquires Xwatch to strengthen its construction safety portfolio, Hexagon
  37. ↑ Hexagon acquires Itus Digital to expand Asset Performance Management capabilities, Hexagon
  38. ↑ Hexagon acquires Voyansi to enhance its BIM solutions portfolio, Hexagon
  39. ↑ Script error: No such module "citation/CS1".
  40. ↑ Hexagon to acquire Septentrio, revolutionising positioning in mission-critical navigation and autonomy applications, Hexagon
  41. ↑ Hexagon to acquire CONET Communications assets to strengthen public safety capabilities, Hexagon
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