Hexagon Signs Agreement to Acquire Devex
Hexagon AB, a global provider of design, measurement and visualisation solutions, signed an agreement to acquire Devex, a player in the field of automation solutions for mining operations.
Devex is a Brazilian company with leading mine-management software solutions for open-pit and underground mines. Having grown significantly in size and scope in recent years, solutions from Devex go beyond fleet management deep into mine process automation.
The Devex portfolio has grown from SmartMine, their flagship operations offering, to a comprehensive automation platform for optimising mine performance through real-time control and remote monitoring of all mine activities, in 3D and from a single platform.
With a leading market share in Brazil and considerable growth in neighboring countries, the Devex acquisition not only advances Hexagon's expansion into South America but the mining industry as a whole. Their solutions complement Hexagon's other offerings in the mining sector, with specific emphasis on 3D environments which allow users to view and access data much more intuitively than before.
The portfolio of automation solutions offered by Devex is built on an open platform, offering ease of application development for the mobile environment as well as integration with other widely used systems. This enables mine operators to meet different necessities and manage all of the pieces as an integrated process-from long- and medium-term mine planning to day-to-day mine operations.
"Hexagon's customers in mining and other sectors are increasing the utilisation of automation technologies in order to deliver higher efficiencies at lower costs," said Hexagon President and CEO Ola Rollén. "Devex's strong presence and technology leadership not only opens doors to cross-sell complementary Hexagon offerings to the same market but also exploit product integration opportunities to better serve the automation needs of additional segments, like agriculture and construction."
Closure of the transaction is subject to customary regulatory approvals. Consolidation and contribution to Hexagon's earnings will start as of the closing date. The company's turnover for 2012 amounted to approximately 35 million Brazilian Real.