Business Services Industry

Sweden's Hexagon AB acquires US software company Jigsaw Technologies Inc

Nordic Business Report, May 18, 2007

Swedish technology group Hexagon AB said on Friday (18 May) that it has agreed to acquire the US software company Jigsaw Technologies Inc for an undisclosed sum.

Jigsaw Technologies, based in Tucson, Arizona, develops and supplies machine automation software for the mining industry. The company has 17 employees and is expected to achieve sales of USD9m in 2007.

"The acquisition of Jigsaw is a vital piece in Hexagon's growth strategy and commitment to global expansion within the measurement technologies market segment machine control for mining," said Ola Rollen, president and CEO of Hexagon.

"The product portfolio of Jigsaw in the field of fleet management will complement our existing product offering and provide our customers in the mining industry with a more complete concept. We will also be able to reach synergies in sales and marketing as Jigsaw's strong position in the Americas complement [Hexagon subsidiary] Leica Geosystems' position in Australia and South Africa," Rollen added.

Hexagon, headquartered in Nacka Strand, Sweden, is an international technology group focusing on measurement technologies, polymers and key components. The company has 8,000 employees in 30 countries, and annual net sales of approximately SEK13.5bn. Hexagon is listed on the Nordic Exchange in Stockholm.

One British pound (GBP) is worth approximately 1.99 US dollars (USD). One British pound (GBP) is worth approximately 13.40 Swedish kronor (SEK).

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