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, most populous city of Sweden, as well as the List of urban areas in the Nordic countries, largest urban area in the Nordic countries. Approximately ...

, Sweden,and publicly traded on the Nasdaq Stockholm 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 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 city, capital and List of urban areas in Sweden by population, most populous city of Sweden, as well as the List of urban areas in the Nordic countries, largest urban area in the Nordic countries. Approximately ...

, 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, a Swedish company focused on metrological tools, for around US$180 million. Hexagon AB also acquired Leica Geosystems 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 was acquired by Hexagon AB in July 2010 for US$2.1 billion.

2013–2021

Hexagon AB acquired Vero Software 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 Softwarefor 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.

2022–2025

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 the southernmost Provinces and territories of Canada, province of Canada. Located in Central Canada, Ontario is the Population of Canada by province and territory, country's most populous province. As of the 2021 Canadian census, it ...

, 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. On November 11, 2024, it was announced that Paolo Guglielmini was stepping down as CEO and that Norbert Hanke would be serving as interim CEO. Hexagon also announced its exploration of a possible split of the company into Hexagon AB and a new corporation, which would focus on Enterprise Industrial Software. On the 20th of January the following year Hexagon announced that Anders Svensson would take over the position of President and CEO.

Products and services

Hexagon is a technology and software firmknown 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 to ...

and positioning systems. According to

Reuters Reuters ( ) is a news agency owned by Thomson Reuters. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide writing in 16 languages. Reuters is one of the largest news agencies in the world. The agency ...

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 is organized into divisions, listing five internal divisions on its website: Asset Lifecycle Intelligence, Autonomous Solutions, Geosystems, Manufacturing Intelligence, and Safety, Infrastructure & Geospatial.

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