Hexagon acquires CAD Service to strengthen EAM solutions with enhanced visualisation capabilities

PR Newswire

STOCKHOLM, Jan. 21, 2025

STOCKHOLM, Jan. 21, 2025 /PRNewswire/ -- Hexagon's Asset Lifecycle Intelligence $(ALI.AU)$ division today announced the acquisition of CAD Service. CAD Service is a developer of advanced visualisation tools used to integrate computer-aided design $(CAD.UK)$ drawings, BIM models, and Reality Capture data into HxGN EAM, Hexagon's industry-leading asset management solution designed to extend asset lifecycles and improve productivity.

CAD Service has maintained a longstanding relationship with Hexagon, having signed a partnership agreement in 2013. The flagship solution, OpenCAD, is already an essential tool for around half of Hexagon's EAM Software-as-a-Service (SaaS) customers. The acquisition enables Hexagon to fully integrate CAD Service's visualisation capabilities into the broader solution set and accelerate the development roadmap.

By leveraging CAD Service's expertise in-house, the ALI division will be able to offer more robust and comprehensive EAM solutions, addressing the evolving needs of complex industries, including manufacturing, energy, and transportation as they move to visualise and manage their assets in an increasingly 3D environment.

"Acquiring CAD Service marks an important stepping stone for Hexagon's Asset Lifecycle Intelligence division," said Hexagon interim President and CEO Norbert Hanke. "Its expertise and advanced visualisation tools will allow us to further enhance our EAM offerings, directly providing customers with more integrated and efficient tools for managing their assets. Becoming part of Hexagon is a natural progression for CAD Service since its tools have been an integral part of Hexagon's EAM solutions for years."

CAD Service, headquartered in Parma, Italy, has a team of nine employees. It will be fully consolidated from today and will operate within Hexagon's Asset Lifecycle Intelligence division.

For further information, please 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

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 (STO: 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.

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SOURCE Hexagon

(END) Dow Jones Newswires

January 21, 2025 02:17 ET (07:17 GMT)