Hexagon enhances materials management capabilities with the acquisition of Jovix material tracking solution
Hexagon AB, a global leader in digital reality solutions, today announced the acquisition of the Jovix software and services business from Atlas RFID Solutions, LLC of Birmingham, Alabama, USA. Jovix is an award-winning material tracking software developed specifically for the construction industry, providing project decision-makers with real-time, actionable data regarding material status and location.
The cloud-based, IoT-enabled, mobile, configurable workflow platform offers visibility and traceability into the status and location of materials throughout the Engineering, Procurement, and Construction (EPC) lifecycle. This streamlined process, coined “Material Readiness” by Jovix, ensures construction crews have required materials without delay to complete their work according to plan. This is achieved by fully digitizing the supply chain to provide real-time, geo-contextual, and relational visibility from fabrication to installation.
Jovix combines web-based server software with information from multiple types of sensor tags and readers to automate previously manual, paper-based data collection workflows about the status and location of material as it moves throughout the construction supply chain. The software has been deployed in 25 countries on more than 650 job sites, including multibillion-dollar oil and gas and chemical construction projects. There are currently more than 7,500 Jovix users worldwide.
“The acquisition supports our continued expansion into the procurement, fabrication, and construction market,” says Hexagon President and CEO Ola Rollén. “By removing impediments to productivity that result from material management issues intending to reduce material wait times to zero, Jovix provides value for owner-operators, EPC firms, contractors, fabricators, and suppliers.”
Jovix will be fully consolidated as of 1 October, operating within Hexagon’s PPM division. The acquisition has no significant impact on Hexagon's earnings.
For further information, please contact:
Maria Luthström, Head of Sustainability and Investor Relations, Hexagon AB, +46 8 601 26 27, ir@hexagon.com
Kristin Christensen, Chief Marketing Officer, Hexagon AB, +1 404 554 0972, media@hexagon.com
Hexagon is a global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications.
Our technologies are shaping production and people related ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future.
Hexagon (Nasdaq Stockholm: HEXA B) has approximately 21,000 employees in 50 countries and net sales of approximately 3.8bn EUR. Learn more at hexagon.com and follow us @HexagonAB.