The Board of Directors has directed management to prepare for the separation of the ALI division and related businesses by way of a Lex Asea distribution.
Intergraph's heritage as a U.S. public company and location of its management team will be reflected in NewCo's listing on a U.S. national securities exchange.
We remain convinced that a spin-off allows each company to take advantage of their competitive advantages, execute on their increasingly distinct strategies, and leverage their greater agility to accelerate growth and benefit from clear structural tailwinds.
The New Co perimeter has been expanded to include safety, infrastructure and Geospatial.
The Board's evaluation has led to the expansion of the expected perimeter of NewCo to include the rest of the Safety, Infrastructure & Geospatial division, as opposed to just the Utilities & Infrastructure business.
Significant financial and operational synergies have been presented by the inclusion of SIG in the NewCo perimeter.
New Co.
NewCo will be a pureplay software and SaaS company, offering comprehensive asset lifecycle intelligence, safety, infrastructure, and geospatial capabilities for a wide array of industries.
"New Co is uniquely positioned with software and services offerings for both industry and the public sector and the entire organisation is incredibly excited to leverage our scale, product portfolio, and collective expertise to drive the next phase of growth as a solo company."
NewCo had approximately 7,200 employees and revenues of approximately 1,448 million with an adjusted operating margin of 31% for the year ended December 31, 2024.
There are changes to the management of the company.
Steven Cost will retire from his position as President of SIG at the end of Q1 2025.
Steven Cost said that the future is great for the NewCo spin-off and that including the SIG division will be a positive move for customers and partners.
Steven has been with the company for 18 years and I wish him the best in his retirement.
The name of the company is Hexagon.
As customers strive to improve the quality, productivity, reliability and accuracy of both, Hexagon remains well positioned to benefit from the accelerated adoption of these technologies.
Excluding NewCo, the company had approximately 17,600 employees and revenues of approximately 3,953 million with an adjusted operating margin of 29% for the year ended December 31, 2024.
There are details of the process.
The board expects the separation and listing process to be completed in the first half of the year.
The separation, spin-off and listing are subject to the approval of the board and shareholders, as well as other conditions, consents and regulatory approvals.
Tom Hull, Head of Investor Relations, Hexagon, can be contacted by email.
About Hexagon.
The industries that shape our reality are being transformed by our digital twins, robotic and artificial intelligence solutions.
The company has approximately 24,800 employees in 50 countries and net sales of over 5 billion euro.
Important information.
This communication is not an offer to exchange, sell or buy securities in any jurisdiction.
When used in this communication, words such as "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements.
As the preparation for the spin-off progresses, the actual results of NewCo, and the rest of the company, may vary from the figures shown, for reasons including but not limited to potential changes in accounting standards and the inclusion of stand-offs.
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hexagon prepares for the spin-off of its assets lifecycle intelligence division and related business.
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The source of the information is Hexagon.
The acquisition of CAD Service is a part of the ALI division.
Septentrio is a leading provider of Global navigation Satellite System (GNSS) technologies.
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Source prnewswire