Hexagon Completes Acquisition of Autonomous Vehicle Solutions Provider
Hexagon AB, a global leader in digital solutions, today announced the completion of the previously announced acquisition of AutonomouStuff, one of the world’s leading suppliers of integrated autonomous vehicle solutions. Completion of the transaction was subject to regulatory approvals, including a filing to the Committee on Foreign Investment in the United States (CFIUS), which have now been obtained.
AutonomouStuff will be a fully owned subsidiary of Hexagon and operate within Hexagon’s Positioning Intelligence division. In 2017, AutonomouStuff generated sales of 45 MUSD, with good profitability. The AutonomouStuff transaction purchase price will not be publicly disclosed as it’s insignificant relative to Hexagon’s market capitalisation.
The income statement during the third quarter of 2018 will be impacted by -25 MEUR, related to impairment of overlapping technologies, transaction costs and a reduction in work force. During the third quarter 2018 Hexagon also divested its shares in Bimobject which resulted in a capital gain of 22 MEUR. Overall, the net impact of one-off items on the income statement in the third quarter 2018 will be approximately -3 MEUR.
For further information, please contact:
Maria Luthström, Investor Relations Manager, Hexagon AB, +46 8 601 26 27, email@example.com
Kristin Christensen, Chief Marketing Officer, Hexagon AB, +1 404 554 0972, firstname.lastname@example.org