Hexagon AB set to acquire Vero SoftwareHexagon AB (NASDAQ OMX Stockholm: HEXA B - www.hexagon.com), a global provider of design, measurement and visualisation technologies, have reached an agreement to acquire Vero Software. The acquisition is subject to clearance of standard regulatory filings and is expected to be complete as of August 2014.
Vero will continue to run as an autonomous business unit within Hexagon Metrology (www.hexagonmetrology.com). Hexagon have a strong presence in manufacturing with their world leading metrology brands, and together with Vero share a number of industry sectors (automotive, aerospace, electronics, design, energy & medical), and a common customer base.
The acquisition strengthens Hexagon Metrology’s software offerings, providing the means to close the gap of making quality data fully actionable by extending the reach of the newly developed MMS (metrology planning software) to include CAM (manufacturing planning software).
Hexagon President and CEO Ola Rollén commented “Together with its unique suite of manufacturing software solutions, Vero Software has the expertise, knowledge and resources to deliver even higher levels of productivity to our customers. Leveraging our global footprint, the synergies from our combined technologies will advance our strategy, supporting the growing need to integrate all data and processes across the manufacturing lifecycle.”
Richard Smith, Vero Software CEO commented “All of our efforts over many years have positioned Vero and our products as leaders in the industries we serve. Hexagon has more than 14,000 employees in over 40 countries and net sales of approximately €2,400 million. I firmly believe that Hexagon’s size and global reach will provide stability and support our growth into the future.”