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Hexagon AB

Swedish tech company From Wikipedia, the free encyclopedia

Hexagon AB is a multinational industrial technology company.[6] Headquartered in Stockholm, Sweden,[4]and publicly traded on the Nasdaq Stockholm exchange,[7] the company since 2000 has had a particular focus on measuring technology[8] and geospatial tools and software.[4] After its founding, between 2000 and 2022, Hexagon completed more than 170 acquisitions,[9] and it is the parent company of Leica Geosystems[10] andInfor EAM, among other subsidiaries.[6] With around 24,000 employees,Hexagon's revenue in 2023 was US$5.5 billion, while assets were $18.1 billion.[4]

Quick Facts Company type, Traded as ...
Hexagon AB
Company typePublic (Aktiebolag)
Nasdaq Stockholm: HEXA B
OMX Stockholm 30 component
ISINSE0015961909[1]
IndustryCAD/CAM Software, Electronics, Enterprise Software, Geographic Information Systems (GIS), Software, Technology, Technology Consulting.
Founded1975; 50 years ago (1975)
HeadquartersStockholm, Sweden
Area served
Worldwide
Key people
Norbert Hanke, CEO (interim)[2]
Ola Rollén, Chairman[3]
Revenue 5.2 bn EUR (2022)
1,517.8 MEUR (2022)
Total assets16,477.0 MEUR (2022)
Number of employees
24,000 (2022)[4][5]
WebsiteHexagon.com
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History

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1975–2012

Headquartered in Stockholm, Sweden, the predecessor company of Hexagon AB was founded on August 29, 1975.[4] The company was described as a "sprawling conglomerate" investing in diverse industries, for example seafood imports, vehicle hydraulics, and day-care centers.FinancierMelker Schörlingbought a controlling stake in the company in 1998, and aimed to focus the company's investments.[11]

In 2000,[12]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.[11] In late 2001,Hexagon AB agreed to buy Brown & Sharpe, a Swedish company focused on metrological tools, for around US$180 million.[8] Hexagon AB also acquired Leica Geosystems[11] after counter-bidding against Danaher for the company in 2005.[10] Hexagon AB acquired the Israel-based 3D optics company CogniTens Ltd in 2007.[13] The software company Intergraph was acquired by Hexagon AB in July 2010 for US$2.1 billion.[14]

2013–2021

Hexagon AB acquired Vero Software in 2014.[15] 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,[7] although he stepped down in October 2016 due to health issues.[16] Hexagon purchased MSC Softwarefor US$834 million in 2017, using the acquisition to boost its portfolio of products related to automated manufacturing.[17]In 2018, Hexagon acquired both AGTEK[18] and Spring Technologies SAS.[19]

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,[20] then again found not guilty by an Oslo appeals court in 2019.[12] Hexagon acquired Infor EAM, a program developed by Infor, from Kochin 2021. Hexagon paid US$800 million in cash and shares worth $1.95 billion for the purchase, giving Koch a 5% stake in Hexagon.[6]

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.[3] Hexagon purchased Hard-Line, a radio system company based in Ontario, in July 2023,[21] and in November 2023, Hexagon led a US$230 million funding round in the industrial AI company Divergent Technologies.[22] 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[4] in 50 countries.[23]

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.[2]

Products and services

Hexagon is a technology and software firm[17]known for specializing in measurement and positioning systems.[4][20] 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."[24] 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.[25][non-primary source needed]

Divisions

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Perspective

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.[26][non-primary source needed]

List of acquisitions and subsidiaries

Between 2000 and 2022, Hexagon completed more than 170 acquisitions.[9] The following table lists major acquisitions by year, also noting the division of Hexagon AB that the acquisition was made a part of.

More information Year, Company ...
YearCompanyCountryHexagon division[when?]
2000Cubic-Tavleproduktion Denmark
2000Wilcox & Associates USManufacturing Intelligence
2000HTR Hydrauliikka Finland
2001Brown & Sharpe[8] USManufacturing Intelligence
2002MIRAI S.R.L Italy
2002Quality Ltda Brazil
2002CE Johansson SwedenManufacturing Intelligence
2002Xygent USManufacturing Intelligence
2002GFD Technology Germany
2004Korea ErFa Systems Eng – Business South Korea
2004Romer FranceManufacturing Intelligence
2004GPD Sprl – Assets Italy
2004Thona Group Belgium
2005Trostel SEG US
2005Leica Geosystems[10]  SwitzerlandGeosystems
2006Mikrofyn DenmarkGeosystems
2007Gesswein Germany
2007Agatec SAS France
2007Jingjiang Measuring Tool Company ChinaManufacturing Intelligence
2007Transmetal Turkey
2007Allen Precision Equipment USGeosystems
2007NovAtel CanadaAutonomy & Positioning
2007Elcome Technologies IndiaGeosystems
2007Gold Key Processing US
2007Ionic Software Belgium
2007Earth Resource Mapping Australia
2007GAMFI International France
2007Svensk ByggnadsGeodesi SwedenGeosystems
2007CogniTens Ltd[13] IsraelManufacturing Intelligence
2008Messtechnik Wetzlar GermanyManufacturing Intelligence
2008Santiago & Cintra Ibérica Spain
2008m&h Group GermanyManufacturing Intelligence
2008Viewserve SwedenGeosystems
2008Serein Metrology USManufacturing Intelligence
2009Technodigit FranceManufacturing Intelligence
2009Mahr Multisensor GmbH Germany
2009MYCRONA GmbH Germany
2010Intergraph[14] USSafety, Infrastructure & Geospatial/
Asset Lifecycle Intelligence
2012Microsurvey CanadaGeosystems
2012myVR NorwayCORP
2012GTA Geoinformatik Germany
2013Pixis ChileAsset Lifecycle Intelligence
2013Airborne Hydrography AB SwedenGeosystems
2013Devex BrazilMining
2013Navgeocom RussiaGeosystems
2013LISTECH AustraliaGeosystems
2013New River Kinematics (NRK) USManufacturing Intelligence
2013MANFRA BrazilGeosystems
2014Veripos UK[27]Autonomy & Positioning[28]
2014Aibotix GermanyGeosystems
2014HostSure IrelandAsset Lifecycle Intelligence
2014iLab BrazilVEN
2014Mintec USMining
2014North West Geomatics Ltd. (North West Group) CanadaGeosystems
2014SAFEmine  SwitzerlandMining
2014Arvus BraziliHub
2014Vero Software[15] UKManufacturing Intelligence
2015EcoSys USAsset Lifecycle Intelligence
2015Q-DAS GermanyManufacturing Intelligence
2015CAMTECH GmbH & Co KG GermanyManufacturing Intelligence
2016Apodius GmbH GermanyManufacturing Intelligence
2016Forming Technology, Inc. CanadaManufacturing Intelligence
2016Multivista USGeosystems
2016SigmaSpace Corporation USSafety, Infrastructure & Geospatial
2016SCCS Survey UKGeosystems
2016AICON 3D Systems GermanyManufacturing Intelligence
2016NESTIX Oy FinlandAsset Lifecycle Intelligence
2017Catavolt, Inc USVENT
2017Luciad BelgiumSafety, Infrastructure & Geospatial
2017MiPlan AustraliaMining
2017MSC Software[17] USManufacturing Intelligence
2017VIRES GmbH GermanyManufacturing Intelligence
2017DST Computer Services  SwitzerlandAsset Lifecycle Intelligence
2018AGTEK[18] USGeosystems
2018AutonomouStuff USAutonomy & Positioning
2018Bricsys BelgiumAsset Lifecycle Intelligence
2018Guardvant USMining
2018Nextsense AustriaManufacturing Intelligence
2018Spring Technologies SAS[19] FranceManufacturing Intelligence
2019J5 International Isle of ManAsset Lifecycle Intelligence
2019Etalon AG GermanyManufacturing Intelligence
2019Thermopylae Sciences & Technology LLC USGSP
2019Split Engineering USMining
2019AMendate GermanyManufacturing Intelligence
2019Volume Graphics GermanyManufacturing Intelligence
2020Blast Movement Technology (BMT) AustraliaMining
2020Geopraevent  SwitzerlandGeosystems
2020Romax UKManufacturing Intelligence
2020PAS Global USAsset Lifecycle Intelligence
2020Tacticaware Czech RepublicGeosystems
2020ESPRIT CAM USManufacturing Intelligence
2020CAEfatigue UKManufacturing Intelligence
2020OxBlue USGeosystems
2021Infor EAM[6] USAsset Lifecycle Intelligence
2021Immersal FinlandGeosystems
2021CADLM FranceManufacturing Intelligence
2022ETQ USManufacturing Intelligence[29][better source needed]
2022Innovatia Accelerator[30][better source needed] CanadaAsset Lifecycle Intelligence
2022Minnovare AustraliaMining[31][better source needed]
2022iConstruct Pty Ltd AustraliaAsset Lifecycle Intelligence[32][better source needed]
2022PDSA Company Limited GhanaGeosystems
2023Qognify USSafety, Infrastructure & Geospatial[33][better source needed]
2023CADS Additive AustriaManufacturing Intelligence[34][better source needed]
2023Projectmates USGeosystems[35][better source needed]
2023Hard-Line[21] CanadaMining[36]
2024Xwatch UKGeosystems[37]
2024Itus Digital USAsset Lifecycle Intelligence[38]
2024Voyansi USGeosystems[39]
2024indurad GermanyAutonomous Solutions[40]
2025Septentrio BelgiumAutonomous Solutions[41]
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