Subject: TNM
Hexagon acquires Xwatch to strengthen its construction safety portfolio
STOCKHOLM, April 23, 2024 /PRNewswire/ -- Hexagon, the global leader in digital reality solutions, combining sensor, software and autonomous technologies, today announced the acquisition of Xwatch Safety Solutions. Xwatch provides machine control hardware and software technologies designed to enhance safety protocols on construction sites. This includes height control, slew control, and rated capacity indication (RCI) for heavy machinery, allowing operators to limit an excavator's height and set side boundaries to define a working zone, significantly increasing safety around a machine.
Xwatch has previously partnered with Hexagon's Geosystem division to develop the 3D Avoidance Zone system, an integral part of the digital construction product suite.
"Safety is an increasing focus for our construction customers," said Paolo Guglielmini, President and CEO, Hexagon. "Technologies like Xwatch's solutions are already mandatory in public contracts within the UK, and we see this trend extending further in future. The team at Xwatch have developed an impressive array of OEM agnostic solutions which address a real customer need and fit seamlessly into our digital construction product portfolio. I am excited to have them join us at Hexagon."
In 2023, Xwatch generated revenues of around 4 MEUR, with operating margins slightly below the Geosystem's division average. Xwatch has 17 employees, mainly within the UK, and will be fully consolidated in April.
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]
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SOURCE Hexagon
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