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Date Announced: 21 Dec 2023
Stockholm, Sweden -- Hexagon AB, the global leader in digital reality solutions, combining sensor, software and autonomous technologies has entered into an agreement to sell its Tesa PMI (Precision Measurement Instruments) business to Hangzhou Great Star Industrial Company Ltd. This divestment reflects Hexagon’s commitment to focus on core business activities directly accretive to its mid-term growth, margin and cash generation targets.
In 2022 PMI contributed 50.9 MEUR in revenues, with below group average profitability, to Hexagon’s Manufacturing Intelligence division.
The sale is subject to customary, limited closing conditions and expected to close in Q1 2024. Further details of the transaction will be covered in the Q1 report.
About Hexagon
Hexagon is the global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications.
Our technologies are shaping production and people related ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future.
Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,000 employees in 50 countries and net sales of approximately 5.2bn EUR. Learn more at hexagon.com and follow us @HexagonAB.
Hexagon AB P.O. Box 3692, SE-103 59 Stockholm, Sweden
(Address) Lilla Bantorget 15 SE-111 23 Stockholm, Sweden
Tel: +46 8 601 26 20
Fax: +46 8 601 26 21
E-mail: ir@hexagon.com
Web Site: hexagon.com
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