STOCKHOLM, Nov. 21, 2024 /PRNewswire/ -- Hexagon has announced the acquisition of indurad, a global leader in radar and Real-Time Location Systems (RTLS) technologies, along with its autonomous haulage subsidiary, xtonomy. This strategic move underscores Hexagon's commitment to advancing mine productivity, safety, and autonomy through cutting-edge technology.
Key Benefits of the Acquisition:
- Enhanced Mine Safety: indurad's advanced radar-based collision avoidance systems mitigate risks in high-stakes mining environments.
- Increased Productivity: Real-time ore tracking and measurement help automate mine workflows, reducing downtime and inefficiencies.
- Future-Ready Autonomy: indurad's mobile machine automation expertise and OEM-agnostic autonomy platform combined with Hexagon's existing technologies accelerate the shift to fully autonomous mines.
"This acquisition represents another step towards realising our vision of fully connected and integrated mine workflows," said Norbert Hanke, Interim President and CEO of Hexagon. "indurad's radar technology aligns perfectly with our focus on safety and autonomy, and we are excited to integrate their capabilities into our portfolio to unlock its full potential."
Based in Germany, indurad specialises in modular radar systems that deliver precise object location tracking, collision avoidance, and machine automation capabilities. These innovations will enhance Hexagon's integrated life-of-mine portfolio, further solidifying its leadership in the mining industry.
The transaction is expected to close in late November, at which point indurad will be fully consolidated into Hexagon's Autonomous Solutions division. In 2023, indurad reported revenues of approximately 19 MEUR, with profitability initially below Hexagon Group levels but expected to improve as synergies are realised. The company has 140 employees globally.
For further information, please contact:
Tom Hull, Head of Investor Relations, Hexagon AB, +44 7442 678 437, [email protected]
Anton Heikenström, Investor Relations Manager, Hexagon AB, +46 8 601 26 26, [email protected]
About Hexagon
Hexagon is the global leader in precision technologies at any scale. Our digital twins, robotics and AI solutions are transforming the industries that shape our reality.
Hexagon's Autonomous Solutions (Mining) division solves surface and underground mine challenges with proven technologies for planning operations and safety.
Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,500 employees in 50 countries and net sales of approximately 5.4bn EUR. Learn more at hexagon.com and follow us @HexagonAB.
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SOURCE Hexagon
