What does the closing announcement mean for the companies?
On July 6, 2010, Hexagon AB entered into an agreement to acquire Intergraph Corporation. All approvals have now been obtained, other conditions reviewed and the acquisition was completed on October 28, 2010. Hexagon paid a cash purchase price of 2 125 MUSD for Intergraph on a cash and debt free basis.
Now that the acquisition has been completed, Intergraph is a wholly-owned subsidiary of Hexagon AB. Intergraph will continue to operate under the Intergraph name/branding and will become the core software growth platform for the Hexagon business.
Hexagon AB President and CEO Ola Rollén has assumed the role of CEO of Intergraph. Intergraph's two divisions, Process, Power & Marine and Security, Government & Infrastructure, will continue to operate under the leadership of Gerhard Sallinger and John Graham, respectively.
With Hexagon assuming executive management of Intergraph, Chairman, President and CEO Halsey Wise, COO Reid French and CFO Anthony Colaluca have left the company. Under their leadership during the past seven years, Intergraph has achieved extraordinary transformational success. We are truly grateful for their vision, commitment and laying the foundation for our transition to becoming the core software platform of a larger, publicly-traded company with significant global resources which will allow us to better meet customer needs.
What is the nature of Hexagon's business?
Hexagon is a leading global provider of precision measurement technology systems for objects in one, two or three dimensions. Hexagon’s systems measure with great precision and rapidly provide access to large amounts of data. For the customer, this means greater efficiency and productivity, improved quality and significant material and cost savings in the production process. From global mapping to precision measurements with nanometer accuracy, measurement technologies are used in application areas ranging from infrastructure and agriculture, to raw material extraction, manufacturing industries and medical technologies.
For more information, please visit www.hexagon.se .
How will Intergraph fit within the Hexagon portfolio?
Hexagon is a leading global provider of precision measurement technology systems with three primary core businesses (Geosystems, Metrology and Technology). The transaction combines a leading global measurement hardware company with a leading global process engineering and geospatial software company to create a unique and differentiated technology business in the marketplace.
Hexagon provides leading technology measurement systems that produce a tremendous amount of precise data (data inputs) in the form of digital sensors, etc. Intergraph will provide expertise and leadership for Hexagon's growing software portfolio. Intergraph's unique and differentiated software can act as the "presentation layer" to visualize this immense amount of critical and complex data to help create actionable intelligence for both organizations' customers.
Hexagon operates through a number of strong brands that are well known within their respective industries. Each brand represents an established tradition in its geographical region and/or industry, which is why Hexagon uses different brands for different customer groups or in different markets. Intergraph has brand equity and awareness around the world and Hexagon plans to continue to invest in Intergraph as a marquee brand and unit.
What does the acquisition mean for Intergraph and its customers?
The transaction marks the return of Intergraph as part of a publicly traded company: Hexagon trades on the Nordic exchange (ticker "HEXA B") with a secondary listing on the Swiss Exchange (ticker "HEXN"). As the core software platform of a larger, publicly-traded company with significant global resources, Intergraph will be able to better meet customer needs.