The spin-off company, “NewCo”, will be led by Mattias Stenberg, currently CEO of the Asset Lifecycle Intelligence division.
“NewCo is uniquely positioned with software and service offerings for both industry and the public sector and the entire organization is incredibly excited to leverage our scale, product portfolio and combined expertise to drive the next phase of growth as a standalone company. We are convinced that we are ideally positioned to capitalize on both organic and inorganic opportunities in the market, and we look forward to what lies ahead.” says Mattias Stenberg.
More parts are being incorporated into the new company
It can be added that following the Hexagon board’s evaluation, the expected areas of operation of “NewCo” have been expanded to include the rest of Hexagon’s Safety, Infrastructure & Geospatial (“SIG”) division, as opposed to only the Utilities & Infrastructure operations within SIG, as previously communicated. As previously, the NewCo perimeter will also include the ETQ business (currently operating under the Manufacturing Intelligence division) and the Bricsys business (currently operating under the Geosystems division).
“The inclusion of SIG in the new company’s operations reflects a shared history and brings significant financial and operational synergies,” says Ola Rollén, adding that, “SIG’s diversified and global customer base expands NewCo’s addressable market and adds more software solutions designed to transform complex data into powerful insights and analytics. The expanded NewCo scope also means a tighter focus for Hexagon on its core mission, to accelerate our leadership in measurement technology and develop increasingly autonomous solutions for our customers in all end markets.”
“Leveraging best-in-class capabilities”
In the press release, Hexagon further writes that, “NewCo will leverage best-in-class capabilities across domains and apply them in new ways to deliver previously unrealized market advantages. With a data-centric approach, NewCo will help customers plan, operate and maintain assets more effectively, enabling clearer insights and better incident response. As a standalone company, NewCo will also have increased flexibility to pursue its distinct business strategy, accelerate a SaaS transition and switch to recurring revenue, and establish a separate currency for future M&A.”
