Hexagon Strengthens Mining Technology Portfolio with Acquisition of indurad and xtonomy

Hexagon Strengthens Mining Technology Portfolio with Acquisition of indurad and xtonomy

(IN BRIEF) Hexagon has acquired indurad, a leader in radar and Real-Time Location Systems (RTLS) technologies, along with its subsidiary xtonomy, to advance safety, productivity, and automation in the mining industry. indurad’s radar-based collision avoidance and automation technologies will complement Hexagon’s existing solutions, supporting the transition to fully autonomous mines. The acquisition, expected to close in late November, will integrate indurad into Hexagon’s Autonomous Solutions division. With €19 million in 2023 revenues and 140 employees globally, indurad strengthens Hexagon’s mining technology portfolio and commitment to innovation.

(PRESS RELEASE) STOCKHOLM, 21-Nov-2024 — /EuropaWire/ — Hexagon has announced the acquisition of Germany-based indurad, a global leader in radar and Real-Time Location Systems (RTLS) technologies, along with its subsidiary xtonomy, which specializes in autonomous haulage solutions. This strategic move reinforces Hexagon’s mission to enhance safety, productivity, and automation across the mining sector through innovative technology integration.

Key Advantages of the Acquisition:

• Improved Safety: indurad’s radar-driven collision avoidance systems offer advanced solutions to reduce risks in challenging mining environments.
• Boosted Productivity: Real-time ore tracking and measurement technologies streamline mine workflows, minimizing downtime and inefficiencies.
• Accelerated Autonomy: Combining indurad’s machine automation expertise with Hexagon’s existing capabilities will drive the transition to fully autonomous mines, supported by an OEM-agnostic autonomy platform.

“This acquisition aligns with our vision of creating fully connected and integrated mine workflows,” said Norbert Hanke, Interim President and CEO of Hexagon. “indurad’s cutting-edge radar technologies are a perfect complement to our portfolio, enhancing our ability to deliver safer and more autonomous mining solutions.”

indurad, known for its modular radar systems that enable precise object tracking, collision prevention, and machine automation, will strengthen Hexagon’s integrated life-of-mine solutions. With a global workforce of 140 employees and 2023 revenues of approximately €19 million, indurad brings significant expertise to Hexagon’s Autonomous Solutions division.

The acquisition is expected to be finalized in late November, with indurad’s operations fully consolidated into Hexagon. While initial profitability is below Hexagon’s group levels, it is anticipated to improve as synergies are realized, further solidifying Hexagon’s leadership in the mining industry.

This acquisition represents a significant step forward for Hexagon, underscoring its dedication to advancing mining innovation and paving the way for safer and more efficient autonomous mine operations.

About Hexagon

Hexagon is the global leader in precision technologies at any scale. Our digital twins, robotics and AI solutions are transforming the industries that shape our reality.

Hexagon’s Autonomous Solutions (Mining) division solves surface and underground mine challenges with proven technologies for planning operations and safety.

Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,500 employees in 50 countries and net sales of approximately 5.4bn EUR. Learn more at hexagon.com and follow us @HexagonAB.

Media 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

SOURCE: Hexagon AB