Hexagon AB is a multinational industrial technology company. Headquartered in

Stockholm Stockholm () is the Capital city, capital and List of urban areas in Sweden by population, largest city of Sweden as well as the List of urban areas in the Nordic countries, largest urban area in Scandinavia. Approximately 980,000 people liv ...

Sweden Sweden, formally the Kingdom of Sweden,The United Nations Group of Experts on Geographical Names states that the country's formal name is the Kingdom of SwedenUNGEGN World Geographical Names, Sweden./ref> is a Nordic country located on ...

and publicly traded on the

Nasdaq Stockholm Nasdaq Stockholm, formerly known as the Stockholm Stock Exchange ( sv, Stockholmsbörsen), is a stock exchange located in Frihamnen, Stockholm, Sweden. Founded in 1863, it has become the primary securities exchange of the Nordic countries. As o ...

exchange, the company since 2000 has had a particular focus on measuring technology and

geospatial Geographic data and information is defined in the ISO/TC 211 series of standards as data and information having an implicit or explicit association with a location relative to Earth (a geographic location or geographic position). It is also call ...

tools and software. After its founding, between 2000 and 2022, Hexagon completed more than 170 acquisitions, and it is the parent company of

Leica Geosystems Leica Geosystems (formerly known as Wild Heerbrugg or just Wild) based in eastern Switzerland produces products and systems for surveying and geographical measurement (geomatics). Its products employ a variety of technologies including GPS sa ...

and Infor EAM, among other subsidiaries. With around 24,000 employees, Hexagon's revenue in 2023 was US$5.5 billion, while assets were $18.1 billion.

History

1975-2012

Headquartered in

Stockholm, Sweden Stockholm () is the capital and largest city of Sweden as well as the largest urban area in Scandinavia. Approximately 980,000 people live in the municipality, with 1.6 million in the urban area, and 2.4 million in the metropoli ...

, the predecessor company of Hexagon AB was founded on August 29, 1975. 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. In 2000, 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. In late 2001, Hexagon AB agreed to buy

Brown & Sharpe Brown & Sharpe is a division of Hexagon AB, a Swedish multinational corporation focused mainly on metrological tools and technology. During the 19th and 20th centuries, Brown & Sharpe was one of the best-known and most influential machine tool build ...

, a Swedish company focused on

metrological Metrology is the scientific study of measurement. It establishes a common understanding of units, crucial in linking human activities. Modern metrology has its roots in the French Revolution's political motivation to standardise units in Fra ...

tools, for around US$180 million. Hexagon AB also acquired

after counter-bidding against Danaher for the company in 2005. Hexagon AB acquired the Israel-based 3D optics company CogniTens Ltd in 2007. The software company

Intergraph Intergraph Corporation was an American software development and services company, which now forms part of Hexagon AB. It provides enterprise engineering and geospatially powered software to businesses, governments, and organizations around the w ...

was acquired by Hexagon AB in July 2010 for US$2.1 billion.

2013-2021

Hexagon AB acquired

Vero Software Vero Software is a company based in Cheltenham, England, that specialises in CAD CAM (Computer Aided Design and Manufacturing). History Vero was founded in Northern Italy in October 1988 by Don Babbs and Ezio Galardo when they left Olivetti. ...

in 2014. 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, although he stepped down in October 2016 due to health issues. Hexagon purchased

MSC Software MSC Software Corporation is an American simulation software technology company based in Newport Beach, California, that specializes in simulation software. In February 2017, the company was acquired by Swedish technology company Hexagon AB for ...

for US$834 million in 2017, using the acquisition to boost its portfolio of products related to automated manufacturing. In 2018, Hexagon acquired both AGTEK and Spring Technologies SAS. 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, then again found not guilty by an Oslo appeals court in 2019. 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.

2022-2024

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. Hexagon purchased Hard-Line, a radio system company based in

Ontario Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Ca ...

, in July 2023, and in November 2023, Hexagon led a US$230 million funding round in the industrial AI company Divergent Technologies. 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 in 50 countries.

Products and services

Hexagon is a technology and software firm known for specializing in

measurement Measurement is the quantification of attributes of an object or event, which can be used to compare with other objects or events. In other words, measurement is a process of determining how large or small a physical quantity is as compared ...

and positioning systems. According to

Reuters Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was estab ...

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." 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.

Divisions

Hexagon AB has two overall business segments: Geospatial Enterprise Solutions, and Industrial Enterprise Solutions. The company is further organized into divisions, listing eight internal divisions on its website: Agriculture, Asset Lifecycle Intelligence, Autonomy & Positioning, Geosystems, Manufacturing Intelligence, Mining, Safety, Infrastructure & Geospatial, and Xalt Solutions.

List of acquisitions and subsidiaries

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

References

External links

{{Authority control Technology companies of Sweden Technology companies established in 1992 Software companies of Sweden Software companies established in 1992 Companies based in Stockholm Geographic data and information equipment companies Swedish brands Swedish companies established in 1992 Companies listed on Nasdaq Stockholm Companies in the OMX Stockholm 30 Companies in the OMX Nordic 40 Companies in the S&P Europe 350 Dividend Aristocrats