Hexagon agrees sale of non-core business area

STOCKHOLM, Dec. 19, 2023 /PRNewswire/ -- 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.

For further information, please contact:
Tom Hull, Head of Investor Relations, Hexagon AB, +44 7442 678 437, [email protected]
Anton Heikenström, Investor Relations Manager, Hexagon AB, +46 8 601 26 26, [email protected]

The following files are available for download:

View original content:https://www.prnewswire.com/news-releases/hexagon-agrees-sale-of-non-core-business-area-302018635.html

SOURCE Hexagon