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Hexagon AB

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Hexagon AB
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; 51 years ago (1975)
HeadquartersStockholm, Sweden
Area served
Worldwide
Key people
Anders Svensson, CEO [2]
RevenueIncrease 5.2 bn EUR (2022)
Increase 1,517.8 MEUR (2022)
Total assetsIncrease16,477.0 MEUR (2022)
Number of employees
24,000 (2022)[3][4]
WebsiteHexagon.com

Hexagon AB was a multinational industrial technology company.[5] Headquartered in Stockholm, Sweden,[3] and publicly traded on the Nasdaq Stockholm exchange,[6] the company since 2000 has had a particular focus on measuring technology[7] and geospatial tools and software.[3] After its founding, between 2000 and 2022, Hexagon completed more than 170 acquisitions,[8] and it is the parent company of Leica Geosystems[9] and Infor EAM, among other subsidiaries.[5] With around 24,000 employees, Hexagon's revenue in 2023 was US$5.5 billion, while assets were $18.1 billion.[3]

History

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1975–2012

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Headquartered in Stockholm, Sweden, the predecessor company of Hexagon AB was founded on August 29, 1970 .[3] 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.[10]

In 2000,[11] 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.[10] In late 2001,Hexagon AB agreed to buy Brown & Sharpe, a US company focused on metrological tools, for around US$180 million.[7] Hexagon AB also acquired Leica Geosystems[10] after counter-bidding against Danaher for the company in 2005.[9] Hexagon AB acquired the Israel-based 3D optics company CogniTens Ltd in 2007.[12] The software company Intergraph was acquired by Hexagon AB in July 2010 for US$2.1 billion.[13]

2013–2021

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Hexagon AB acquired Vero Software in 2014.[14] 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,[6] although he stepped down in October 2016 due to health issues.[15] Hexagon purchased MSC Software for US$834 million in 2017, using the acquisition to boost its portfolio of products related to automated manufacturing.[16]In 2018, Hexagon acquired both AGTEK[17] and Spring Technologies SAS.[18]

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,[19] then again found not guilty by an Oslo appeals court in 2019.[11] 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.[5]

2022–2025

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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.[20] 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[3] 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.[24] He officially took office on July 20.[2]

In September 2025, Cadence Design Systems announced it would acquire the design and engineering business of Hexagon for €2.7 billion (approximately $3.16 billion) in a stock-and-cash deal.[25] The acquisition includes MSC Software which Hexagon acquired in 2017.[26]

Products and services

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Hexagon is a technology and software firm[16]known for specializing in measurement and positioning systems.[3][19] 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."[27] 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 facilities, infrastructure, manufacturing, and mines.[28][non-primary source needed]

Divisions

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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.[29][non-primary source needed]

List of acquisitions and subsidiaries

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Between 2000 and 2022, Hexagon completed more than 170 acquisitions.[8] The following table lists major acquisitions by year, also noting the division of Hexagon AB that the acquisition was made a part of.

YearCompanyCountryHexagon division[when?]
2000Cubic-TavleproduktionImage Denmark
2000Wilcox & AssociatesImage USManufacturing Intelligence
2000HTR HydrauliikkaImage Finland
2001Brown & Sharpe[7]Image USManufacturing Intelligence
2002MIRAI S.R.LImage Italy
2002Quality LtdaImage Brazil
2002CE JohanssonImage SwedenManufacturing Intelligence
2002XygentImage USManufacturing Intelligence
2002GFD TechnologyImage Germany
2004Korea ErFa Systems Eng – BusinessImage South Korea
2004RomerImage FranceManufacturing Intelligence
2004GPD Sprl – AssetsImage Italy
2004Thona GroupImage Belgium
2005Trostel SEGImage US
2005Leica Geosystems[9]Image  SwitzerlandGeosystems
2006MikrofynImage DenmarkGeosystems
2007GessweinImage Germany
2007Agatec SASImage France
2007Jingjiang Measuring Tool CompanyImage ChinaManufacturing Intelligence
2007TransmetalImage Turkey
2007Allen Precision EquipmentImage USGeosystems
2007NovAtelImage CanadaAutonomy & Positioning
2007Elcome TechnologiesImage IndiaGeosystems
2007Gold Key ProcessingImage US
2007Ionic SoftwareImage Belgium
2007Earth Resource MappingImage Australia
2007GAMFI InternationalImage France
2007Svensk ByggnadsGeodesiImage SwedenGeosystems
2007CogniTens Ltd[12]Image IsraelManufacturing Intelligence
2008Messtechnik WetzlarImage GermanyManufacturing Intelligence
2008Santiago & Cintra IbéricaImage Spain
2008m&h GroupImage GermanyManufacturing Intelligence
2008ViewserveImage SwedenGeosystems
2008Serein MetrologyImage USManufacturing Intelligence
2009TechnodigitImage FranceManufacturing Intelligence
2009Mahr Multisensor GmbHImage Germany
2009MYCRONA GmbHImage Germany
2010Intergraph[13]Image USSafety, Infrastructure & Geospatial/
Asset Lifecycle Intelligence
2012MicrosurveyImage CanadaGeosystems
2012myVRImage NorwayCORP
2012GTA GeoinformatikImage Germany
2013PixisImage ChileAsset Lifecycle Intelligence
2013Airborne Hydrography ABImage SwedenGeosystems
2013DevexImage BrazilMining
2013NavgeocomImage RussiaGeosystems
2013LISTECHImage AustraliaGeosystems
2013New River Kinematics (NRK)Image USManufacturing Intelligence
2013MANFRAImage BrazilGeosystems
2014VeriposImage UK[30]Autonomy & Positioning[31]
2014AibotixImage GermanyGeosystems
2014HostSureImage IrelandAsset Lifecycle Intelligence
2014iLabImage BrazilVEN
2014MintecImage USMining
2014North West Geomatics Ltd. (North West Group)Image CanadaGeosystems
2014SAFEmineImage  SwitzerlandMining
2014ArvusImage BraziliHub
2014Vero Software[14]Image UKManufacturing Intelligence
2015EcoSysImage USAsset Lifecycle Intelligence
2015Q-DASImage GermanyManufacturing Intelligence
2015CAMTECH GmbH & Co KGImage GermanyManufacturing Intelligence
2016Apodius GmbHImage GermanyManufacturing Intelligence
2016Forming Technology, Inc.Image CanadaManufacturing Intelligence
2016MultivistaImage USGeosystems
2016SigmaSpace CorporationImage USSafety, Infrastructure & Geospatial
2016SCCS SurveyImage UKGeosystems
2016AICON 3D SystemsImage GermanyManufacturing Intelligence
2016NESTIX OyImage FinlandAsset Lifecycle Intelligence
2017Catavolt, IncImage USVENT
2017LuciadImage BelgiumSafety, Infrastructure & Geospatial
2017MiPlanImage AustraliaMining
2017MSC Software[16]Image USManufacturing Intelligence
2017VIRES GmbHImage GermanyManufacturing Intelligence
2017DST Computer ServicesImage  SwitzerlandAsset Lifecycle Intelligence
2018AGTEK[17]Image USGeosystems
2018AutonomouStuffImage USAutonomy & Positioning
2018BricsysImage BelgiumAsset Lifecycle Intelligence
2018GuardvantImage USMining
2018NextsenseImage AustriaManufacturing Intelligence
2018Spring Technologies SAS[18]Image FranceManufacturing Intelligence
2019J5 InternationalImage Isle of ManAsset Lifecycle Intelligence
2019Etalon AGImage GermanyManufacturing Intelligence
2019Thermopylae Sciences & Technology LLCImage USGSP
2019Split EngineeringImage USMining
2019AMendateImage GermanyManufacturing Intelligence
2019Volume GraphicsImage GermanyManufacturing Intelligence
2020Blast Movement Technology (BMT)Image AustraliaMining
2020GeopraeventImage  SwitzerlandGeosystems
2020RomaxImage UKManufacturing Intelligence
2020PAS GlobalImage USAsset Lifecycle Intelligence
2020TacticawareImage Czech RepublicGeosystems
2020ESPRIT CAMImage USManufacturing Intelligence
2020CAEfatigueImage UKManufacturing Intelligence
2020OxBlueImage USGeosystems
2021Infor EAM[5]Image USAsset Lifecycle Intelligence
2021ImmersalImage FinlandGeosystems
2021CADLMImage FranceManufacturing Intelligence
2022ETQImage USManufacturing Intelligence[32][better source needed]
2022Innovatia Accelerator[33][better source needed]Image CanadaAsset Lifecycle Intelligence
2022MinnovareImage AustraliaMining[34][better source needed]
2022iConstruct Pty LtdImage AustraliaAsset Lifecycle Intelligence[35][better source needed]
2022PDSA Company LimitedImage GhanaGeosystems
2023Qognify[36]Image USSafety, Infrastructure & Geospatial[37]
2023CADS AdditiveImage AustriaManufacturing Intelligence[38][better source needed]
2023ProjectmatesImage USGeosystems[39][better source needed]
2023Hard-Line[21]Image CanadaMining[40]
2024XwatchImage UKGeosystems[41]
2024Itus DigitalImage USAsset Lifecycle Intelligence[42]
2024VoyansiImage USGeosystems[43]
2024induradImage GermanyAutonomous Solutions[44]
2025SeptentrioImage BelgiumAutonomous Solutions[45]
2025CONET Communications GmbHImage GermanySafety, Infrastructure & Geospatial[46]

See also

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References

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  1. ↑ "Hexagon AB – Company Profile and News – Bloomberg Markets". Bloomberg News.
  2. 1 2 "Hexagon welcomes new President and CEO, Anders Svensson", Morningstar, July 21, 2025, retrieved August 20, 2025
  3. 1 2 3 4 5 6 7 "Hexagon", Forbes, 2023, retrieved December 31, 2023
  4. ↑ "Hexagon | Company Overview & News". Forbes.
  5. 1 2 3 4 "Sweden's Hexagon buys Infor EAM for $2.7 bln, develops ties with Koch", Reuters, July 13, 2021, retrieved December 31, 2023
  6. 1 2 Johannes Hellstrom, Anna Ringstrom (November 1, 2016), "Hexagon CEO was under arrest during results call, investors unaware", Reuters
  7. 1 2 3 "Hexagon Buys Measuring Instrument Business", The New York Times, November 18, 2000
  8. 1 2 Annual Report 2022, Hexagon
  9. 1 2 3 "Hexagon raises Leica Geosystems bid", The New York Times, August 16, 2005, retrieved December 31, 2023
  10. 1 2 3 Niklas Pollard, Johannes (27 March 2013), "From tuna to tech, Hexagon breaks Swedish mould", Reuters, retrieved December 31, 2023
  11. 1 2 Gwladys Fouche, Terje Solsvik (June 26, 2019), "Hexagon CEO Rollen found not guilty of insider trading in appeals case", Reuters
  12. 1 2 Feldman, Batya (September 4, 2007), "Hexagon buys Israeli 3D optics start-up CogniTens", Globes, retrieved December 31, 2023
  13. 1 2 "Sweden's Hexagon buys Intergraph for $2.1 bln", Reuters, July 7, 2010, retrieved December 31, 2023
  14. 1 2 "Hexagon says to buy Vero Software w FY2013 sales of about EUR 80 mln", Reuters, July 20, 2014, retrieved December 31, 2023
  15. ↑ Shanley, Mia (November 4, 2016), "Sweden's clean corporate image dealt blow with insider trading case", Reuters
  16. 1 2 3 "Deals of the day-Mergers and acquisitions", Reuters, February 2, 2017, retrieved December 31, 2023
  17. 1 2 "Hexagon acquires U.S. software firm AGTEK", Reuters, March 15, 2018
  18. 1 2 "Swedish Hexagon acquires Spring Technologies", Les Echos, June 20, 2018, retrieved December 31, 2023
  19. 1 2 Mile, Richard (January 10, 2018), "Hexagon CEO acquitted of insider trading charges", Financial Times, retrieved December 31, 2023
  20. ↑ "Hexagon CEO steps down to become chair of the board", Reuters, June 27, 2022, retrieved December 31, 2023
  21. 1 2 Sudbury, Ont.-based Hard-Line sells to Swedish multinational, but local jobs will stay, CBC, July 17, 2023, retrieved December 31, 2023
  22. ↑ Harnon, Grace (November 20, 2023), "Modernizing Manufacturing: Divergent Raises $230M to Aid Growth", The Los Angeles Business Journal, retrieved December 31, 2023
  23. ↑ "annual-report-2022" (PDF).
  24. ↑ "What was announced today?" (PDF). 2024-11-11. Retrieved 2024-11-15.
  25. ↑ Babu, Juby (4 September 2025). "Cadence Design to buy Hexagon's design and engineering unit for $3.16 billion". Reuters. Mexico City. Retrieved 4 September 2025.
  26. ↑ Ahmad, Majeed (September 5, 2025). "Cadence Bolsters Multiphysics Simulation with $3.16bn Acquisition". EE Times.
  27. ↑ "Industrial tech group Hexagon beats Q1 Forecast", Reuters, April 28, 2023, retrieved December 31, 2023
  28. ↑ "Solutions by Ecosystem". hexagon.com. Retrieved 2023-10-31.
  29. ↑ "Divisions". hexagon.com. Retrieved 2024-08-12.
  30. ↑ "Hexagon's Acquisition of Veripos: Why Did This Go Down? - GPS World". GPS World – The Business and Technology of Global Navigation and Positioning. 2014-04-16. Retrieved 2024-01-30.
  31. ↑ "Hexagon | Veripos expands SPAN GNSS+INS portfolio for dynamic positioning – GPS World". GPS World. 2022-03-03. Retrieved 2024-01-30.
  32. ↑ Hexagon completes the acquisition of ETQ, Hexagon
  33. ↑ Hexagon furthers its commitment to innovation in the Operations & Maintenance (O&M) segment with the acquisition of Innovatia Accelerator, Hexagon
  34. ↑ Hexagon strengthens its life-of-mine solutions portfolio with the acquisition of Minnovare, Hexagon
  35. ↑ Hexagon expands its Smart Digital Reality capabilities across the construction sector with the acquisition of iConstruct, Hexagon
  36. ↑ Bosch, Rodney (2015-08-03). "NICE Systems Deal Finalized, Name Changed to Qognify". Security Sales & Integration. Retrieved 2025-05-23.
  37. ↑ "Qognify becomes part of Hexagon". www.sourcesecurity.com. Retrieved 2025-05-23.
  38. ↑ Hexagon enhances its additive manufacturing solutions with the acquisition of CADS Additive, Hexagon
  39. ↑ Hexagon strengthens its construction software offering for asset owners with the acquisition of Projectmates, Hexagon
  40. ↑ Hexagon strengthens its mining automation and safety solutions with acquisition of HARD-LINE, Hexagon
  41. ↑ Hexagon acquires Xwatch to strengthen its construction safety portfolio, Hexagon
  42. ↑ Hexagon acquires Itus Digital to expand Asset Performance Management capabilities, Hexagon
  43. ↑ Hexagon acquires Voyansi to enhance its BIM solutions portfolio, Hexagon
  44. ↑ "Hexagon accelerates the shift to fully autonomous mines with acquisition of indurad". hexagon.com. 2024-11-21. Retrieved 2024-11-22.
  45. ↑ Hexagon to acquire Septentrio, revolutionising positioning in mission-critical navigation and autonomy applications, Hexagon
  46. ↑ Hexagon to acquire CONET Communications assets to strengthen public safety capabilities, Hexagon
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