Hexagon AB to Sell Tesa PMI Business to Hangzhou Great Star Industrial

Hexagon AB to Sell Tesa PMI Business to Hangzhou Great Star Industrial

(IN BRIEF) Hexagon AB, a leading provider of digital reality solutions, has announced an agreement to divest its Precision Measurement Instruments (PMI) business, known as Tesa, to Hangzhou Great Star Industrial Company Ltd. This move aligns with Hexagon’s strategic focus on core business activities that contribute directly to its mid-term growth, margin improvement, and cash generation targets. In 2022, PMI generated revenues of 50.9 million euros, with profitability below the group average within Hexagon’s Manufacturing Intelligence division. The transaction is expected to close in the first quarter of 2024, pending customary closing conditions, with further details to be provided in the Q1 report.

(PRESS RELEASE) STOCKHOLM, 20-Dec-2023 — /EuropaWire/ — Hexagon AB, the global leader in digital reality solutions, combining sensor, software and autonomous technologies has entered into an agreement to sell its Tesa PMI (Precision Measurement Instruments) business to Hangzhou Great Star Industrial Company Ltd. This divestment reflects Hexagon’s commitment to focus on core business activities directly accretive to its mid-term growth, margin and cash generation targets.

In 2022 PMI contributed 50.9 MEUR in revenues, with below group average profitability, to Hexagon’s Manufacturing Intelligence division.

The sale is subject to customary, limited closing conditions and expected to close in Q1 2024. Further details of the transaction will be covered in the Q1 report.

Hexagon is the global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications.

Our technologies are shaping production and people related ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future.

Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,000 employees in 50 countries and net sales of approximately 5.2bn EUR. Learn more at hexagon.com and follow us @HexagonAB.

Media Contacts:

Anton Heikenström
Investor Relations Manager, Hexagon AB
+46 8 601 26 26
ir@hexagon.com

Tom Hull
Head of Investor Relations, Hexagon AB
+44 7442 678 437
ir@hexagon.com

SOURCE: Hexagon AB