Hexagon AB acquires Kronion
Hexagon is a market leader in the provision of information technology systems that measure productivity across geospatial and industrial enterprises. And now, it is adding to its already impressive portfolio of services through the acquisition of Kronion.
Kronion was founded in 2009, and has developed a host of successful programs and services for the industrial sector, including shipbuilders, automakers, and other “discrete manufacturing industries”. Most of this software concerns data management, analytics, and planning – and now, the company will integrate those services with Hexagon’s recently launched online quality data and measurement resource management software platform.
Hexagon’s share price has risen by 37% year to date
Source: Yahoo Finance
Hexagon Manufacturing Intelligence (HMI) is the wing of the company that Kronion will fall under, and there is confidence on both sides that the merger will be a successful one. Norbert Hanke, president of HMI, made the following comment on the acquisition:
“The eMMA software and the expertise of the team behind it are highly complementary additions to Q-DAS and our HxGN SMART Quality development group. They will provide our customers with greater value out of their collected dimensional data and ease data management efforts. We’re committed to supporting our customers’ entire metrology fleet including probing, scanning and automated systems with a hardware-independent software solution.”
In a statement, Hexagon announced that this acquisition has “no significant impact” on its earnings.
Dominion holds Hexagon AB in its Global Trends Managed Fund.
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