Approvals for Hexagon's acquisition of Intergraph obtained

Approvals for Hexagon's acquisition of Intergraph obtained

On 6 July 2010, Hexagon AB entered into an agreement to acquire the
US-based software provider Intergraph Corporation. Completion of the
transaction was subject to certain conditions, including clearance from
the relevant competent competition authorities and CFIUS (Committee on
Foreign Investment in the United States). All approvals have now been
obtained, other conditions reviewed and the acquisition is expected to
be completed on Thursday 28 October 2010. Hexagon will pay a cash
purchase price of 2 125 MUSD for Intergraph on a cash and debt free
basis.

Intergraph is a leading global provider of enterprise engineering
software and geospatially powered solutions that enables customers to
visualize and manage complex data. Intergraph fulfils all prerequisites
that Hexagon has set for software driven expansion. The combination of
Hexagon's leadership in solutions that capture rich geospatial data
using aerial and ground based point cloud sensor technology, with
Intergraph's leadership in engineering and geospatial software, will
enable the enlarged Hexagon Group to develop and provide unrivalled
integrated solutions to clients. Intergraph is headquartered in
Huntsville, Alabama, USA, and employs approximately 4 000 people in 34
countries.

“With Intergraph's technology, Hexagon can add a market-leading software
platform to Hexagon's offering. This in combination with our global
resources and competences, the opportunities for creating innovative new
client solutions is virtually limitless. I am enthusiastic about finally
being able to kick off the integration process and very much look
forward to working together with our new colleagues at Intergraph”, says
Ola Rollén, President and CEO of Hexagon AB.

Intergraph will be a fully owned subsidiary of Hexagon and will operate
as a separate application area under the Intergraph name and branding.
As previously communicated, Ola Rollén President and CEO of Hexagon AB
assumes also the role of CEO of Intergraph in accordance with the
Hexagon model for successful integration into the Hexagon Group. The two
Intergraph divisions Process, Power & Marine (PP&M) and Security
Government & Infrastructure (SG&I), continue to operate under the
leadership of Gerhard Sallinger and John Graham, respectively.

As previously communicated, to finance part of the acquisition Hexagon
will pursue a rights issue corresponding to approximately 6 500 MSEK.
See separate press release for further information on the rights issue.

Information on the financial implications of the acquisition of
Intergraph will be communicated as soon as practically possible after
the acquisition has been completed.

 

This press release may contain forward-looking statements. When used in
this press release, words such as “anticipate”, “believe”, “estimate”,
“expect”, “intend”, “plan” and “project” are intended to identify
forward-looking statements. They may involve risks and uncertainties,
including technological advances in the measurement field, product
demand and market acceptance, the effect of economic conditions, the
impact of competitive products and pricing, foreign currency exchange
rates and other risks. These forward-looking statements reflect the
views of Hexagon's management as of the date made with respect to future
events and are subject to risks and uncertainties. All of these
forward-looking statements are based on estimates and assumptions made
by Hexagon's management and are believed to be reasonable, though are
inherently uncertain and difficult to predict. Actual results or
experience could differ materially from the forward-looking statements.
Hexagon disclaims any intention or obligation to update these
forward-looking statements.

 This press release consists of such information that Hexagon AB (publ)
may be obliged to disclose in accordance with the Swedish Securities
Market Act and /or the Financial Instruments Trading Act. The
information was submitted for publication on 25 October 2010 at 08:00
CET.

For further information please contact: Sara Kraft Westrell, Corporate
Communications Director, Hexagon AB, +46 8 601 26 23, Mattias Stenberg,
IR Manager, Hexagon AB, +46 8 601 26 27