Hexagon announces effects from the Veripos acquisition
Hexagon has in the purchase price allocation analysis performed following the acquisition of Veripos identified overlapping technologies and assets between Hexagon and Veripos. This will lead to a write-down which in combination with transaction costs (financial and legal advice) will impact Hexagon’s earnings for the first quarter 2014.
The write-down relates to overlapping technology between Veripos’ TerraStar positioning business and the existing network positioning business within Hexagon. The write-down also relates to obsolete GNSS technology within Veripos, which in the future will use NovAtel GNSS receivers instead of using an external supplier.
Hexagon’s earnings for the first quarter will, as previously announced, also be impacted by the capital loss from the divestment of SwePart Transmission in March.
Hexagon will therefore in the first quarter 2014 record non-recurring items of in total -17.4 MEUR.
For further information please contact:
Carl Gustafsson, Investor Relations Manager, Hexagon AB,
46 8 601 26 27, firstname.lastname@example.org
Kristin Christensen, Vice President, Corporate Communications, Hexagon AB,
1 404 554 0972, email@example.com
Hexagon (NASDAQ OMX Stockholm: HEXA B) is a leading global provider of design, measurement and visualisation technologies. Our customers can design, measure and position objects, and process and present data, to stay one step ahead of a changing world. Hexagon’s solutions increase productivity, enhance quality and allow for faster, better operational decisions, saving time, money and resources. Hexagon has more than 14,000 employees in over 40 countries and net sales of about 2,400 MEUR. Our products are used in a broad range of industries including surveying, power and energy, aerospace and defence, construction, safety and security, automotive and manufacturing. Learn more at www.hexagon.com.