Hexagon has entered into a definitive agreement to acquire all outstanding
shares in Russia-based Navgeocom. The company is the largest distributor for
Leica Geosystems, a Hexagon brand, in the Russian Federation.
Founded in 1997, Navgeocom has grown into one of the top-tier distributors of
surveying and mapping products in Russia. The acquisition marks another step in
Hexagon's global distribution strategy, which aims to establish a strong direct
presence in all key markets.
“Strategically, the acquisition of Navgeocom is a great fit for Hexagon and yet
another step toward expanding our presence in Russia and Central Asia.
Furthermore, Russia is entering into a phase of significant investment in
transport infrastructure,” said Hexagon AB President and CEO Ola Rollén. “In
addition to Russian highways, it includes significantly increasing the size of
Moscow and surrounding its perimeter with a motorway, an expressway and high
-speed rail system between Moscow and St. Petersburg, and an international
transport passage programme between Europe and West China. Coupled with the
acquisition, these projects provide substantial growth opportunities across
Hexagon and improve our ability to serve customers in the Russian Federation.”
The transaction is subject to regulatory approval and customary closing
conditions. The transaction is expected to close as of end of February 2013 and
will contribute to Hexagon's earnings. Excluding intercompany revenue, the
company’s turnover for 2012 amounted to approximately 10 MEUR.
For further information please contact:
Mattias Stenberg, Vice President, Strategy and Communications, Hexagon AB,
+46 8 601 26 27, email@example.com
Kristin Christensen, Vice President, Corporate Communications, Hexagon,
+1 404 554 0972, firstname.lastname@example.org
Hexagon (NASDAQ OMX Stockholm: HEXA B) is a leading global provider of design,
measurement and visualisation technologies. Our customers can design, measure
and position objects, and process and present data, to stay one step ahead of a
changing world. Hexagon’s solutions increase productivity, enhance quality and
allow for faster, better operational decisions, saving time, money and
resources. Hexagon has over 13 000 employees in more than 40 countries and net
sales of about 2 200 MEUR. Our products are used in a broad range of industries
including surveying, power and energy, aerospace and defence, safety and
security, construction and manufacturing. Learn more at www.hexagon.com.
GlobeNewswire, a NASDAQ OMX company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.