Hexagon acquires inspection and 3D modelling software capabilities from 3D Systems
STOCKHOLM, Dec. 12, 2024/PRNewswire/ -- Hexagon today announced the acquisition of 3D Systems' Geomagic suite of interoperable software packages, which are used to create high quality 3D models from multiple sources, including laser scanning.
The Geomagic suite, which includes products such as Design X, Control X, Freeform and Wrap, is capable of automating the processing of 3D scan data to build digital models from physical objects, which can then be used to generate history based parametric CAD models for use in product manufacturing. The Geomagic software tools can also be used to undertake initial free-form design, modify existing CAD models and to accurately measure and inspect parts for quality control purposes when finished. The acquired capabilities will strengthen the existing software portfolio of Hexagon Manufacturing Intelligence and combine with its leadership in portable metrology sensors to deliver a sophisticated suite of solutions across the full range of manufacturing applications.
"The combination of Geomagic and our existing solutions will further strengthen our market leadership in 3D metrology and reengineering, demonstrating our commitment to deliver increasingly user friendly tools capable of executing complex tasks, so our customers can bring innovative, high quality products to the market at speed and with confidence. We look forward to welcoming the Geomagic team to Hexagon," said Norbert Hanke, interim President and CEO.
Hexagon will pay a purchase price of $123M for the Geomagic software business, on a cash and debt free basis. In 2023, the acquired software business had around 100 employees, generated revenues of around $30M and delivered operating margins accretive to those of the Manufacturing Intelligence division. Completion of the transaction is subject to regulatory approvals and other customary conditions, which are expected to be fully completed by early in the second quarter of 2025.
For further information, please contact:
Tom Hull, Head of Investor Relations, Hexagon AB, +44 7442 678 437, ir@hexagon.com
Anton Heikenström, Investor Relations Manager, Hexagon AB, +46 8 601 26 26, ir@hexagon.com
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SOURCE Hexagon