In a move that surprised some, Hexagon AB, a global leader in reality solutions, announced its intent to purchase Infor’s global EAM (enterprise asset management) business from Koch Industries paying $800 million in cash and offering Koch 132.6 million Hexagon series B shares, representing nearly a 5% stake in the company, forming a new partnership between Hexagon and Koch Equity Development.
Since Hexagon is a publicly traded company (Nasdaq Stockholm: HEXA B), the deal still needs to clear some regulatory hurdles but the parties expect to conclude the transaction in the third quarter of this year. With this acquisition, Hexagon gains a best-in-class, SaaS-based asset management solution – Infor EAM – which is used to track assets, digitize maintenance operations, and enable customers in nearly any industry to reach optimum operational efficiency.
Adding an enterprise asset management system to Hexagon’s portfolio puts them in a unique position to drive further digital transformation across their customer base. Since most of the Infor EAM team will move over to Hexagon, there should be minimal disruption to customers. LLP Group is already in discussions with senior members of the Infor EAM leadership team to ensure a smooth transition to the new solution and a continuation of services. The new EAM unit will fall under Hexagon’s Industrial Enterprise Solutions segment but will serve all asset-intensive ecosystems like manufacturing, industrial facilities, mining, agriculture, autonomous mobility, building, infrastructure, and more.
“We’re excited about this development and look forward to working with Hexagon,” said Barbara Dreska, Chairwoman and CEO of LLP Group. “Infor EAM has been continuously ranked by analysts as a market leader among best-of breed solutions and is considered by our customers as one of their most agile solutions. With Hexagon’s vast R&D resources and commitment to product enhancements, the specific attention and investment in EAM will most likely improve and expand the solution’s capabilities exponentially in the coming years.”
For more information about this, please feel free to contact any member of the LLP Group team.