Hexagon Acquires Minority Stake in Blom ASA
Hexagon announced that it will acquire 25 percent of the shares in Blom ASA for a total amount of approximately 9 MEUR.
“Our alliances with geospatial information providers around the globe strengthens our vision of providing ‘dynamic’, more accurate and in the end real-time updates of the world around us”, said Ola Rollén, president and CEO of Hexagon AB. “With this investment, Hexagon secures access to high resolution and up-to-date geospatial information which is becoming increasingly important to our entire customer base, especially within Intergraph, where access to such data provides the foundation for industry-specific software solutions”.
Blom ASA has headquarters in Oslo, Norway and is listed on the Oslo Stock Exchange. The company is a European service provider in the geospatial industry, offering a wide selection of geographic services to the government, enterprise and consumer markets. Services include the acquisition, processing and modeling of maps and images. With subsidiaries in 13 countries, Blom’s geographic information database houses one of the largest collections of maps, aerial images and geospatial models across Europe. Through its online services, Blom provides access to its expansive database enabling customers to update their own datasets and partners the ability to create applications using Blom’s location-based services and navigation solutions.
Hexagon has no current plans for any further offer with respect to shares in Blom. The transaction will close as of June 1, 2012.