Hexagon completes the acquisition of ETQ

01. April 2022

Hexagon AB, a global leader in digital reality solutions combining sensor, software and autonomous technologies, today announced the completion of the previously announced acquisition of ETQ. 

ETQ is a leading provider of SaaS-based QMS (quality management system), EHS (environment, health and safety) and compliance management software. ETQ is expected to generate revenues of around 75 MUSD in 2022 with an adjusted operating margin of over 35 per cent (cash EBITDA margins of around 45 per cent). SaaS is expected to account for half of bookings in 2022 and has been growing at a trailing 3-year Compound Annual Growth Rate (CAGR) of 60 per cent. The transaction is expected to generate sales synergies of over 40 MUSD, with very strong incremental margins, by 2026. 

Completion of the transaction was subject to regulatory approvals and other customary closing conditions, which have now been obtained. ETQ will be consolidated as of 1 April 2022 and will operate within Hexagon’s Manufacturing Intelligence division.

Transaction details

  • Total purchase price of 1,200 MUSD on a cash and debt free basis
  • The cash consideration is fully financed via existing and new debt facilities and the proforma net debt to EBITDA ratio based on the fourth quarter 2021, including the transaction, amounts to approximately 2.0
  • Surplus values in the purchase price allocation (PPA) are estimated to be 250 MEUR and will be amortised over 13 years, beginning in the second quarter 2022
  • A deferred revenue adjustment of 5 MEUR will impact the income statement over the next three quarters, beginning in the second quarter 2022

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

 

Für weitere Informationen wenden Sie sich bitte an:
Maria Luthström, Investor Relations Manager, 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 ist ein weltweit führender Anbieter von Sensor-, Software- und autonomen Lösungen. Wir nutzen Daten, um die Effizienz, Produktivität und Qualität von Anwendungen in der Industrie und der Produktion sowie in den Bereichen Infrastruktur, Sicherheit und Mobilität zu steigern.   

Mit unseren Technologien gestalten wir zunehmend vernetztere und autonomere Ökosysteme im urbanen Umfeld wie auch in der Fertigung und sorgen so für Skalierbarkeit und Nachhaltigkeit in der Zukunft.

Hexagon (Nasdaq Stockholm: HEXA B) beschäftigt mehr als 22,000 Mitarbeiter in 50 Ländern und erzielt einen Nettoumsatz von rund 4.3 Mrd. EUR. Erfahren Sie mehr unter hexagon.com und folgen Sie uns auf @HexagonAB.