Hexagon to Acquire Russia’s NAVGEOCOM
NACKA STRAND, Sweden -- January 22, 2013
Hexagon (STO:HEXAB) 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.
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
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Vice President, Corporate Communications, Hexagon
+1 404 554 0972
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