NACKA STRAND, Sweden — (BUSINESS WIRE) — October 2, 2012 — Regulatory News:
Hexagon (STO: HEXAB) has acquired all shares in Geosystems Kazakhstan, which today is Hexagon’s distribution partner in the country.
Headquartered in Almaty, Kazakhstan, the company has built a strong market position and brand reputation for Leica Geosystems over the last 15 years. The acquisition strengthens the overall distribution strategy of Hexagon’s Geosystems division, which seeks to obtain a direct selling presence in all of its key markets, with increasing emphasis on emerging countries. It provides the Geosystems division with the opportunity to add a full-scale selling unit to better service the needs of its growing client base in the mining, agriculture, transportation and infrastructure industries in the region.
"Combining our people and resources, the acquisition provides substantial growth potential for several of Leica Geosystems’ businesses and the ability to better serve the needs of customers who have relied on the support of Leica Geosystems and its distribution partner for over a decade", says Ola Rollén, CEO and President of Hexagon AB. "Additionally, while the acquisition complements existing operations and increases our competitive stance in the region, it is also part of a larger strategic plan to significantly enhance our global capabilities and expansion into emerging markets."
Geosystems Kazakhstan will be fully consolidated as of October 1st 2012 and will immediately contribute to Hexagon's earnings. Excluding intercompany revenue the company had a turnover of approximately 2 MEUR in 2011.
Hexagon 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.
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