Tag: mergers and acquisitions

Safran acquires Syntony to strengthen position in resilient PNT market
Safran Electronics & Defense has acquired Syntony GNSS, a simulator and receiver company founded in 2015 in Toulouse, France. The acquisition is intended to strengthen Safron’s resilient PNT innovations.

In 2023, Safran acquired Orolia, also for its GNSS and PNT expertise.

Under the agreement, signed Feb. 13, Safran will take 100% of Syntony’s share capital, subject to customary regulatory approvals. Financial terms were not disclosed.

A European leader in GNSS solutions for underground environments, Syntony has developed unique expertise to ensure reliable positioning in contexts where satellite signals are unavailable.

Syntony’s technology addresses a major challenge of satellite navigation systems: the vulnerability of GNSS signals to physical obstacles, jamming and interference. To tackle this, Syntony has developed several critical technologies, including:
- Controlled reception pattern antennas (CRPAs) that make GNSS receivers less sensitive to jamming and spoofing — essential for flight safety and the protection of sensitive infrastructure.
- Software-defined radio (SDR), a digital radio that can change function (switching from FM to Wi-Fi or GPS) through a simple software update without changing hardware, allowing it to adapt to threats or to changes in received or transmitted signals. It offers compactness and scalability, particularly suited to embedded systems and the requirements of modern operational environments.
In addition, Syntony develops GNSS receivers for next-generation satellites, particularly for low Earth orbit (LEO) constellations, further strengthening Safran Electronics & Defense’s offering in the space-based PNT and New Space sectors.

Syntony employs nearly 70 people across Toulouse and Paris.

For Safran Electronics & Defense, this acquisition makes it possible to offer more comprehensive equipment that is also more compact and energy-efficient, while remaining adaptable to the constant evolution of signals. These gains in weight and power consumption are essential for future civilian and military platforms (drones and counter-drone systems, missiles, aircraft and low-orbit satellites).
February 16, 2026
Teledyne completes acquisition of Saab’s TransponderTech

The new FLIR TransponderTech unit will advance GNSS, AIS and VDES technologies for maritime, aerospace and defense markets.

Teledyne Technologies has completed its acquisition of the TransponderTech business from Saab AB. The acquired company, now operating as Teledyne FLIR TransponderTech AB, will become part of Teledyne’s Raymarine, FLIR Marine, ChartWorld and Teledyne CARIS group of maritime technology brands.

Based outside of Linköping, Sweden, the company will market its products and solutions as FLIR TransponderTech. The brand will continue to focus on delivering GNSS, Automatic Identification System (AIS) and VHF Data Exchange System (VDES) technologies.

Going forward, FLIR TransponderTech will be well positioned to continue to pioneer maritime communication solutions for civil and military customers in shipping, marine traffic, airborne and space segments.

November 4, 2025
U-blox to be bought by Advent International

U-blox has entered into a binding transaction agreement with ZI Zenith, a subsidiary of Advent International, for $1.3 billion. Under the agreement, ZI Zenith will launch a public tender offer to acquire all publicly held registered shares of u-blox at a price of CHF 135.00 per share in cash.

Founded in 1997 as a spin-off from the Swiss Federal Institute of Technology in Zurich, u-blox is best known for its affordable and accessible modules that combine microcontrollers, wireless connectivity, and multi-constellation GNSS receivers. Its communications products have also ensured it a slice of the Internet of Things (IoT) market — the company recorded a net profit of SFr101.8 million (around $126 million) in 2021.

“U-blox is a recognized leader in high-performance positioning and short-range communication technology solutions. We are excited about the opportunity to partner with the u-blox management team and co-founders, and support this innovative technology champion through its next chapter of growth,” said Ronald Ayles, managing partner at Advent. “We are deeply committed to invest in the long-term success of u-blox, using our extensive experience and resources in automotive and industrial end-markets to accelerate innovation and expand its global reach. Advent has a long and successful track record of partnering with founders and management teams to deliver sustainable value creation.”

The offer represents a 53% premium to the undisturbed volume-weighted average share price of the last 6 months until August 14, 2025, and a 32% premium to the undisturbed volume-weighted average share price of the last 60 trading days of u-blox shares until August 14, 2025, before the media first reported on a potential transaction.

U-blox’s board of directors has unanimously concluded that the transaction is in the best interests of the company, its shareholders and other stakeholders. It therefore recommends that shareholders accept the offer and has committed, along with the management team, to tender all their shares.

The board’s recommendation is supported by an independent fairness opinion stating that the offer price is fair from a financial point of view. In addition, u-blox’s largest individual shareholder, SEO Master Fund LP, holding approximately 9% of the outstanding shares, has committed to tender all of its shares.

The tender offer is subject to terms and conditions as well as regulatory approvals customary for this type of transaction and is expected to be settled within the next six months. The intention is to then delist u-blox shares from the SIX Swiss Exchange.

The pre-announcement of the offer, which has been published today, is available at www.takeover.ch and www.zenith-offer.com and includes the material terms and conditions of the public tender offer.

August 19, 2025
SES completes acquisition of Intelsat

New multi-orbit space company has network of 120 GEO+MEO satellites and access to LEO constellations.

SES, a space solutions company, has completed its highly value accretive acquisition of Intelsat, creating a strengthened global satellite operator with an expanded fleet of 120 satellites across two orbits. The newly combined company will leverage its skilled teams with deep vertical expertise to deliver integrated multi-orbit, multi-band satellite and connectivity solutions to businesses and governments around the world, creating a stronger multi-orbit operator with ~60% of revenue in high-growth segments.

With a network of approximately 90 geostationary (GEO), nearly 30 medium earth orbit (MEO) satellites, strategic access to low-Earth-orbit (LEO) satellites, and an extensive ground network, SES can now deliver connectivity solutions utilizing complementary spectrum bands including C-, Ku-, Ka-, Military Ka-, X-band and Ultra High Frequency. The expanded capabilities of the combined company will enable it to deliver premium-quality services and tailored solutions to its customers. The company’s assets and networks, once fully integrated, will put SES in a strong competitive position to better serve the evolving needs of its customers including governments, aviation, maritime and media across the globe.

Adel Al-Saleh, CEO of SES, talks about the new combined company in the video below.

The transaction establishes a more robust financial foundation for SES, with pro formacombined revenue of €3.7 billion projected to grow at a low- to mid-single digit CAGR (2024-2028E). The combined company pro forma Adjusted EBITDA of €1.8 billion is expected to grow at mid-single digit CAGR including synergies (2024-2028E), with plans to generate over €1 billion in Adjusted Free Cash Flow by 2027-2028 (pre IRIS2). This stronger financial profile is supported by a combined contract backlog exceeding €8 billion, providing clear visibility into future revenue streams.

SES plans to maintain disciplined investment in future growth, with annual capital expenditures averaging €600–€650 million from 2025-2028E, excluding the IRIS2 programme. This will enable the company to continuously strengthen its network and explore emerging growthmarkets including Internet of Things (IoT), direct-to-device communications, inter-satellite data relay, space situational awareness, and quantum key distribution. The company’s profitable growth outlook, strong balance sheet metrics and expanded cash flows will support both continued innovation and increased shareholder returns, with the intent to raise the annual base dividend once targeted net leverage of below three times is achieved within 12-18 months after closing.

By integrating the two organizations, SES expects to deliver synergies with a total net present value of €2.4 billion, representing an annual run rate of approximately €370 million, with 70% of these efficiencies anticipated to be executed within three years after closing. These savings will primarily come from streamlined operations, optimised capacity costs, and procurement efficiencies, along with the strategic integration of satellite fleets and ground infrastructure.

SES remains headquartered in Luxembourg and is publicly listed on the Paris and Luxembourg stock exchanges (Ticker: SESG), while maintaining a significant presence in the United States with its North American main office in McLean, Virginia.

July 17, 2025
Geolocation companies consolidate as NextNav acquires Nestwave

NextNav Inc., a GPS and 3D geolocation company, has acquired Nestwave SAS, a privately held company specializing in low-power geolocation.

The acquisition was completed Oct. 31 for $18 million.

NextNav is based in McLean, Virginia, and Nestwave is located in based in Neuilly-sur-Seine, France. Nestwave provides advanced geolocation solutions to internet of things (I0T) modem and digital signal processor vendors and end IoT users.

Nestwave will adopt NextNav’s name and be integrated into existing TerraPoiNT engineering and technology efforts, with all Nestwave employees remaining with the company. Nestwave CEO Ambroise Popper will become NextNav’s vice president and general manager in France and is joining NextNav’s executive leadership team, while Nestwave CTO and Founder Rabih Chrabieh will serve as vice president of engineering.

The combination of NextNav’s technology with Nestwave’s LTE/5G capabilities will allow NextNav to intelligently combine signals from existing terrestrial LTE/5G networks with its own highly synchronized TerraPoiNT system to deliver near nationwide resilient 3D position, navigation and timing (PNT) capabilities that contribute to dramatically lower deployment costs.

The company serves markets including timing for critical infrastructure, aviation, automotive, IoT and other mass market applications sooner.

“The acquisition of Nestwave presents a unique opportunity for NextNav to optimize further the use of its existing spectrum bandwidth, while contributing to a drastic decrease of our TerraPoiNT system’s future capital and operating expenditures,” said Ganesh Pattabiraman, NextNav co-founder and CEO.

“By leveraging Nestwave’s unique technology and ambient LTE/5G waveform, NextNav can gain significant spectral efficiency, accelerate the availability of resilient PNT and release the underlying spectrum’s capacity for additional data-oriented services. An LTE/5G waveform also enables broader penetration of NextNav’s applications and technology across the handset and device ecosystem for all of its products and target markets,” Pattabiraman said.

Pattabiraman continued, “Nestwave brings not only a physical presence in Europe, but also a team of professionals who have established strong relationships with European Union representatives that will be beneficial as we continue active conversations with government officials in the United States, Europe and globally over GPS/GNSS resilience.

“The transaction is not expected to materially increase the company’s operational cash burn, and the lowered capital requirements will enable us to quickly scale our GPS resiliency capabilities in both the United States and global markets sooner than previously anticipated.”

NextNav posted a pre-recorded conference call to discuss the acquisition.

November 3, 2022
Global corporation VIAVI acquires Jackson Labs for PNT solutions

Said Jackson,
President and CTO,
Jackson Labs

Global corporation VIAVI Solutions Inc. has completed the acquisition of Jackson Labs Technologies, a leader in positioning, navigation and timing (PNT) solutions for critical infrastructure serving both military and civilian applications.

Jackson Labs develops and supplies modules, subsystems and box-level solutions that include front-end receivers, transcoders, rack-mounted equipment, and patented retrofit technology. Their broad customer base includes armed forces, defense contractors, energy distribution infrastructure, low-Earth-orbit (LEO) operators and 5G service providers.

Jackson Labs’ next-generation M-code solutions complement and advance VIAVI’s timing and synchronization portfolio at a time when PNT requirements for defense, space, commercial aviation, transportation and telecommunication networks are expanding and becoming increasingly critical.

“As telecommunications, avionics and mission-critical infrastructure adopt next-generation technology, legacy timing and synchronization protocols are no longer sufficient. Jackson Labs is a trusted provider of PNT solutions in these markets, and we look forward to addressing these opportunities together,” said Oleg Khaykin, president and CEO of VIAVI. “With this acquisition, we are continuing to drive operational scale via the addition of advanced technology and high-performance products that address market segments with strong growth and profitability.”

“Being a part of VIAVI will significantly expand Jackson Labs Technologies’ market reach worldwide, and allow us to further deliver world-class solutions for the rapidly developing PNT landscape as it enters a new era,” said Said Jackson, CEO of Jackson Labs Technologies.

DelMorgan & Co. acted as the exclusive financial advisor to Jackson Labs in connection with the transaction. Terms of the transaction are not being disclosed.

About VIAVI

VIAVI s a global provider of network test, monitoring and assurance solutions for communications service providers, enterprises, network equipment manufacturers, original equipment manufacturers, government and avionics. It helps customers harness the power of instruments, automation, intelligence and virtualization.

VIAVI is also a leader in light management solutions for the anti-counterfeiting, consumer electronics, industrial, government and automotive markets.

VIAVI operates offices throughout North, Central and South America, Europe, Africa, the Middle East, and the Asia-Pacific, including China and Japan.

October 7, 2022
GMV NSL launched: GMV merges UK company with Nottingham Scientific

GMV Innovating Solutions Limited — the U.K. aerospace company belonging to the Spanish technology multinational GMV — has signed a merger agreement with Nottingham Scientific Limited (NSL).

GMV trades in the aerospace, defense, ICT and intelligent transportation systems markets, while NSL is a U.K. leader in satellite navigation and critical applications.

After the agreement, GMV becomes sole shareholder of NSL and sets up the company GMV NSL, to be integrated seamlessly into GMV’s set of companies. NSL was founded in 1998 by Vidal Ashkenazi, a former member of GPS World’s Editorial Advisory Board.

Vidal Ashkenazi

In 2013, as part of its international expansion, GMV rolled out a business development strategy in the U.K. This involved setting up a new company, which came on stream in late 2014 to join the suite of companies and offices in Spain, USA, Germany, France, Poland, Portugal, Romania, The Netherlands, Malaysia and Colombia.

Working from its Harwell innovation center in Oxfordshire, GMV’s main U.K. business is Earth observation, space debris tracking, mission planning, flight dynamics, navigation, autonomy and robotics. Its principal clients include the European Space Agency (ESA) and the European Commission (EC), as well as U.K.’s space agency (UKSA), the Defence Science and Technology Laboratory (DSTL), Innovate UK, ASUK, Satellite applications Catapult and the Science Technology Facility Council (STFC).

Set up in 1998 and with a solid and acknowledged track record in high-tech projects, NSL is a U.K.-based SME specializing in satellite navigation and critical applications. From its Nottingham head office in the East Midlands, NSL offers GNSS-based services, systems, solutions and intellectual property, helping to ensure that navigation and positioning are precise and reliable, secure and protected, resistant and robust. NSL’s major clients include UK Space Agency, ESA, U.K. Government departments, QinetiQ, Inmarsat, and the European Commission.

GMV NSL, 80 strong, will be integrated into GMV’s set of companies, which closed 2019 with a staff of 2,176 and a turnover of more than €236 million. Membership of the GMV powerhouse will enable GMV NSL to rise to even greater challenges and tap into the opportunities offered by the U.K. market, especially the space market, not only in satellite navigation and in critical applications, but also in Earth observation, telecommunications and new technologies, with the overarching aim of winning pole position in Britain’s space sector.

Jesús B. Serrano, GMV CEO (Photo: GMV)

“This merger will enable the resultant firm to tap into significant commercial, technological and operational synergies, boosting GMV NSL’s rate of growth and winning it a place in the space programs of both the U.K. and Europe as a whole,” said Jesús B. Serrano, GMV CEO.

“In our different ways, GMV and NSL are regarded as world leading space companies and this agreement will expand our capabilities and capacity enabling us to successfully tackle even greater challenges and consolidate GMV NSL’s position as the benchmark space company,” Mark Dumville, co-founder and director of NSL, added.

The sheer quality of both teams and the like-mindedness of GMV and NSL on company values, heritage, technological excellence and client satisfaction were all deal clinchers in this merger agreement.

September 8, 2020
Tallysman Wireless acquired by Calian Group

Effective Sept. 1, Tallysman Wireless Inc. was acquired by Calian Group Ltd. to expand Calian’s reach in the satcom industry to markets requiring smaller antennas used in end-user devices that need a different range of fidelities, according to Patrick Thera, president, Advanced Technologies, Calian.

Calian is a publicly owned Canadian company listed on the Toronto Stock exchange. Its solutions include satellite gateways and infrastructure for RF communications, telemetry, tracking and control systems, space science and earth observation. Calian also provides leading-edge communication products for terrestrial and satellite networks.

Based in Ontario, Canada, Tallysman designs, manufactures and sells a wide range of GNSS, Iridium and Globalstar antennas and related products into a market with a broad range of vertical applications that include precision reference systems, survey, timing, precision agriculture, unmanned and autonomous vehicles, marine and more. The company also produces cloud-based wireless tracking systems over two-way radio systems and 4G category M cellular systems, for applications ranging from school buses to municipal public works.

Development of Tallyman’s VeroStar antenna is the topic of the September issue’s Innovation column.

FIGURE 2 . (a) VeroStar antenna element; (b) VeroStar antenna current distribution. (Images: Tallysman)

The company is widely recognized as a technology leader and is the supplier of high-precision antennas to precision GNNS systems providers. Under the Calian umbrella, Tallysman will continue to operate as it has been, with no changes in product availability, fulfilment, support, management or engineering services.

Tallysman will also continue to invest in research and development, and bring new and innovative GNSS products to the market, the company said.

The definitive agreement is valued at up $24.5 million. Amount paid on closing is $15.7 million (net of cash received) and contains two earnout periods of $4M and $4.8M based on the achievement of a certain level of EBITDA performance over the next 30 months. Tallysman’s results will be consolidated and reported with Calian’s Advance Technology segment.

“This important acquisition supports both customer diversification and service line innovation, two key pillars within our four-pillar growth strategy,” stated Kevin Ford, Calian president and CEO. “The Tallysman acquisition demonstrates Calian continued our focus on innovation and growth. The wide range of products and applications Tallysman brings to Calian expands our product line and entry into new markets. We are excited with the opportunity to support innovation in exciting growth industries such as autonomous vehicles, precision agriculture and wearables. We could not be more pleased to welcome Tallysman to the Calian team.”

Sampford Advisors acted as exclusive M&A advisor to Tallysman.

“We are extremely pleased to join the Calian team,” said Gyles Panther, Tallysman president and CTO states. “We look forward to continuing, profitable growth of our core GNSS businesses with products that we sell to a broad customer base. As a member of the Calian family, we also look forward to leveraging additional resources, new technologies and markets deriving from Calian’s deep expertise in satellite communications.”

“Calian welcomes Tallysman to our team,” Thera said. “The Tallysman product line and services add a complementary component to our ground-based satellite communications business. GNSS is one of the fastest growing markets for satellite ground systems and we are excited to join forces with a leader in this field.”

September 8, 2020
Brandt acquires Sokkia Canada from Topcon

Effective July 2, the Brandt Group of Companies successfully acquired the assets of Ontario-based Sokkia Canada in a deal with owner Topcon Positioning Systems.

The acquisition, which directly affects the Ontario and Quebec markets, makes Brandt the exclusive dealer for Sokkia optical survey instruments, accessories and parts for the Canadian market.

The news signals Brandt’s entry into Central Canada’s geopositioning technology market and is the latest in a growing list of acquisitions and dealer agreements made by the Regina, SK-based company since its purchase of Ontario/Quebec/Newfoundland and Labrador John Deere Construction & Forestry dealer Nortrax in late 2019.

“Expanding our Sokkia offering into Ontario and Quebec has been a high priority for Brandt,” said Brandt CEO Shaun Semple. “Central Canada is an important new market for us and we are 100% committed to delivering exceptional value for the survey, engineering and construction industry here. This addition is a big step forward for us.”

The survey-focused Sokkia brand has a 100-year history and is owned and marketed by Topcon Positioning Systems, a U.S.-based division of Japanese precision equipment manufacturer Topcon Corporation.

The Sokkia product lineup will be distributed and supported through the company’s Brandt Positioning Technology division and includes total stations, GNSS receivers, data collectors, digital levels and a full complement of field accessories.

The move will consolidate Sokkia distribution for the first time under one banner and will further establish the Brandt’s position as a premier privately-held Canadian company.

The Brandt Group of Companies — headquartered in Regina, Saskatchewan, Canada — is comprised of Brandt Agricultural Products, Brandt Engineered Products, Brandt Equipment Solutions, Brandt Road Rail, Brandt Positioning Technology, Brandt Truck Rigging & Trailers, Brandt Finance, Brandt Developments Ltd., Brandt Road Technology, Brandt Mineral Technology and Brandt Tractor Ltd. (the world’s largest privately owned John Deere Construction & Forestry equipment dealer.)

Brandt has more than 100 locations in Canada and the U.S., more than 3,400 employees, and a growing international customer base. It serves the construction, forestry, agriculture, rail, mining, steel and energy industries.

July 20, 2020
Trimble to acquire GIS company Cityworks for EAM expansion

Photo: Cityworks

Trimble has signed a definitive agreement to acquire privately held Azteca Systems LLC (Cityworks), a provider of enterprise asset management (EAM) software for utilities and local government.

Cityworks’ solutions address the global challenges associated with maintaining and replacing aging utility, transportation and public assets and infrastructure.

The transaction is expected to close in the fourth quarter of 2019, subject to customary closing conditions and expiration of the waiting period u

nder the Hart-Scott-Rodino Antitrust Improvements Act. Financial terms were not disclosed.

Cityworks, based in Sandy, Utah, was launched in 1996 and provides a powerful and flexible office, cloud and mobile EAM software solution that is used by more than 700 utilities and local governments. EAM is a key technology and system of record relied on by organizations to address a wide range of applications in infrastructure development, maintenance and permitting.

Cityworks is a leader in the mid-sized utility and local government market segments in North America and its solutions address organizations of all sizes with deployments serving some of the largest cities in the U.S.

The Cityworks acquisition will expand Trimble’s strategy by adding an EAM software platform to its existing utilities and local government capabilities, which include mobile, IoT and infrastructure lifecycle solutions. The combination will provide a comprehensive digital platform — with real-time asset intelligence, workflows and analytics — for transforming the way governments and utilities prioritize infrastructure maintenance and construction investments.

In addition, the acquisition will enable Cityworks to leverage Trimble’s global footprint in multiple industries.

Together, Trimble and Cityworks will provide an expanded solutions portfolio to their partner network of architecture, engineering and construction (AEC) firms and software system integrators.

Customers will benefit from integrated solutions that will enable them to realize improved infrastructure performance, increased productivity and better return-on-investment associated with infrastructure construction and operation.

“Cityworks is a pioneer in developing software to address the global challenges associated with managing aging, critical infrastructure,” said Steve Berglund, president and CEO of Trimble. “Trimble has a long history of transforming industries by combining technologies and providing full solutions that help customers measure, assess, design and construct infrastructure at scale. With Cityworks, we now expand our solutions portfolio enabling customers to manage and optimize the performance of their assets across the entire infrastructure lifecycle.”

“Trimble is an ideal match for Cityworks and the work we aspire to do in helping utilities and communities improve public infrastructure management. Joining Trimble is strategic, providing exciting growth opportunities and new opportunities for innovation,” said Brian L. Haslam, founder, president and CEO of Cityworks. “Cityworks as a Trimble company will accelerate our GIS-centric public asset management approach and allow us to increase the impact and value our solutions deliver to customers.”

The Cityworks business will be reported as part of Trimble’s Resources and Utilities Segment.

October 3, 2019
Microdrones merges with composites maker Schübeler Technologies

As part of ongoing global expansion, Microdrones has merged with Schübeler Tech nologies. Since its founding in 1997, Schübeler has built a global business by providing advanced fan propulsion jets and lightweight composite materials fabrication.

Offering a full product lineup of robust turbo fans, jets, compressors, pumps, electric motors, carbon fiber and aluminum composites, Schübeler products are designed to withstand extreme conditions and demanding field use. These components provide thrust power and lightweight durability to high-tech applications including UAVs, professional motorsports and heavy-duty outdoor equipment.

Microdrones, founded in 2005, has evolved from a manufacturer of commercial-grade unmanned VTOL aircraft to a provider of fully integrated systems for surveying, mapping, lidar and inspection applications. These systems are being put to use worldwide by professionals in the construction, mining, energy, agriculture and infrastructure trades.

“We make life easier for professionals by offering the full solution; it has proven to be a successful strategy,” said Microdrones President Vivien Heriard-Dubreuil. “Perfectly integrated drones, sensors, software, workflow, training and support is what the market needed. Welcoming the Schübeler team, talent and capabilities to Microdrones delivers new aviation technology and capabilities to our customers in the form of next generation unmanned aircraft.”

As the preferred provider of VTOL solutions to Trimble Dealers worldwide, Microdrones adds a global sales force and distribution network as well as technical centers and production sites spanning seven countries and three continents.

“Merging with Microdrones empowers us to develop and deliver systems where we can best support customers locally,” said Daniel Schübeler, founder and CEO of Schübeler Technologies. “This is a happy homecoming for me and the team that we’ve built over the past 20 years.”

Schübeler was an original founding partner in Microdrones and helped develop the pioneering technology that helped Microdrones gain global recognition for professional VTOL UAVs. He adds, “Both of these companies have enjoyed global growth and impressive technological advancements independently. Merging our talents and teams will yield amazing solutions in the years to come.”

“This is a strategic growth initiative,” explained Francois Gerner, SVP of Corporate Affairs at Microdrones. We are adding technology, IP, talent, strong leadership and investment capabilities that are complementary to both brands. This deal brings us to more than 150 highly skilled employees worldwide, which translates to better products, service and support.”

The merged companies will retain the Schübeler Technologies brand, which commands a niche’ audience of serious aeromodeling enthusiasts. Schübeler Technologies will continue to serve these markets as well as tackle large-scale custom R&D projects related to propulsion and materials.

December 6, 2018
Hexagon completes acquisition of AutonomouStuff

Photo: Hexagon

Hexagon AB has completed the previously announced acquisition of AutonomouStuff, a supplier of integrated autonomous vehicle solutions.

Completion of the transaction was subject to regulatory approvals, including a filing to the Committee on Foreign Investment in the United States (CFIUS), which have now been obtained.

AutonomouStuff will be a fully owned subsidiary of Hexagon and operate within Hexagon’s Positioning Intelligence division.

“Combined with Hexagon PI’s leadership in high accuracy, functionally-safe and high-integrity positioning technology, the addition of AutonomouStuff and their offerings is helping our customers to accelerate the development of more comprehensive Autonomous X solutions,” said Michael Ritter, president and CEO of Hexagon PI. “Our expanded capabilities will allow Hexagon PI to meet the industry’s ever growing demand for more robust autonomy solutions.”

Hexagon PI has been an important technology provider to AutonomouStuff for several years, and the two organizations have worked closely together to serve common customers and collaborate on important industry events. As the division grows, AutonomouStuff will continue to function as an independent brand within Hexagon PI.

Founded in 2010, U.S.-based AutonomouStuff is pioneering solutions and platforms for autonomous vehicle development, robotics and data intelligence innovation. Its platforms, which use an expansive portfolio of technologies, are deployed in pilot programs worldwide — representing thousands of customers in the automotive and technology sectors across the globe, AutonomouStuff said.

“The combined entities now provide the fuel and support for exponential growth while affording us the ability to make continued advances in the mobility space,” said Bobby Hambrick, founder and CEO, AutonomouStuff. “I’m very excited for our shared future.”

In 2017, AutonomouStuff generated sales of 45 MUSD, with good profitability, Hexagon said. The AutonomouStuff transaction purchase price will not be publicly disclosed because it is considered insignificant relative to Hexagon’s market capitalization.

The income statement during the third quarter of 2018 will be impacted by -25 MEUR, related to impairment of overlapping technologies, transaction costs and a reduction in workforce. During the third quarter 2018 Hexagon also divested its shares in Bimobject which resulted in a capital gain of 22 MEUR.

Overall, the net impact of one-off items on the income statement in the third quarter 2018 will be approximately -3 MEUR, Hexagon said.

September 27, 2018