Hexagon Acquires Norwegian Company My Virtual Reality Software
myVR provides software that offers a solution for 2D, 3D and 360-degree viewing for desktop and mobile. The company has developed a patented technology platform that enables high-resolution real-time viewing of interactive maps over networks with limited bandwidth. The platform makes it possible to view large-scale models on any 3D hardware-supported client platform, including mobile phones and tablets.
“The acquisition of myVR will be of great value for Hexagon's current offerings. Everything is going mobile, including our customer offerings,” said Ola Rollén, president and CEO, Hexagon AB. “In the past, the problem with displaying 3D data on a mobile device such as a tablet has been size limitations of data transfers, and also the ability to handle the transfer in a real-time environment. myVR has a unique solution to this problem, and Hexagon will make use of its technology in all of our divisions.”
Founded in 2003, myVR provides real-time, 3D virtual technology to the oil, gas, building, construction, government and web portals industries, as well as other traditional and emerging digital markets.
myVR will be fully consolidated as of today. The acquisition will not have any visible impact on Hexagon's earnings in the short-term.