Hexagon acquires ProCAM Srl, pushes into Italy
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Hexagon acquires ProCAM Srl, pushes into Italy

Hexagon, the industrial measurement specialists that use a range of high-tech tools to help a variety of industries conceptualise space, has acquired ProCam Srl, an Italian distributor of some of its software solutions.

ProCAM was founded in 1995 with a pretty simple mission: to act as reseller for the Edgecam and Radan software solutions (both of which are aimed at designers, and position themselves as a CAD-CAM tool for various industries, like sheet metal work in Radan’s case). These tools are created by Vero Software, a subsidiary of Hexagon – and ProCAM will become a part of that organization going forward.

Hexagon’s share price is up 39% so far this year

graph 2305 hexagon

SOURCE: Yahoo Finance

ProCAM employs 15 people and is headquartered in Padova, Italy. By taking control of it, Hexagon will not only control their own distribution network more closely, but be in a stronger position to grow their footprint in Europe, having access to ProCAM’s “extended network of sub-resellers serving the wider Italian market.”

Steve Sivitter, Vero Software’s CEO, made the following comment over the acquisition: “The Italian market is important to Vero and our future ambitions, so establishing a direct presence with the acquisition of ProCAM is an important step. In more than two decades of working together, ProCAM has proven to be an extremely competent reseller with deep insight into the requirements of our customers. Managing our sales channels in Italy locally rather than remotely will be a great benefit to Vero, our partners and our customers.”

Disclosure

Dominion holds Hexagon in its Global Trends Managed Fund.


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