In a somewhat surprising move, Hexagon AB announced the acquisition of AutonomouStuff, one of the world’s leading suppliers of integrated autonomous vehicle solutions.
Founded in 2010, US-based AutonomouStuff is pioneering turn-key platforms for autonomous vehicle development, robotics and data intelligence innovation. Its turn-key platforms, which utilize a robust portfolio of technologies, are deployed in pilot programs worldwide – representing more than 2,500 customers in the automotive and technology sectors across Silicon Valley, America, Europe, and Asia.
“The acquisition of AutonomouStuff accelerates Hexagon’s ability to move our customers beyond the data impasse of IoT,” said Ola Rollén, Hexagon President and CEO. “We’re particularly interested in technologies that are the most disruptive – those capable of leveraging the vast potential of data being generated by connected things, integrating AI, Edge-Cloud Orchestration, Mobility, and Data Visualisation into autonomous connected ecosystems.”
“When combined with our positioning intelligence, mapping and sensing technology leadership, this acquisition creates a nexus of domain expertise that will lead the autonomous mobility industry for years to come.”
2017 sales amounted to 45 MUSD. Completion of the transaction (closing) is subject to regulatory approvals, including a voluntary filing to the Committee on Foreign Investment in the United States (CFIUS), and other customary conditions which are expected to be satisfied within the coming 90 days. The transaction purchase price will not be publicly disclosed as it’s insignificant relative to Hexagon’s market capitalisation.
It is going to be interesting to see how this move into the consumer mass market is going to be integrated with the high end professional business model that Hexagon has been pursuing. When I asked Olla Rollen about the consumer market a few years ago he explained that the profit margins were too low. Things change.
For more information, please contact:
Maria Luthström, Investor Relations Manager, Hexagon AB, +46 8 601 26 27, firstname.lastname@example.org
Kristin Christensen, Chief Marketing Officer, Hexagon AB, +1 404 554 0972, email@example.com