Hexagon acquires software company in Italy

HEXAGON METROLOGY ACQUIRES MIRAI Hexagon Metrology, a business area within the Hexagon Group, has signed an agreement to acquire all outstanding shares in the Italian software provider MIRAI S.R.L. The Acquisition is expected to have a positive effect on Hexagons earnings as of the day of consolidation The Take over will be concluded on October the 31st 2002. MIRAI is an Italian software provider. The Company was founded in 1989, with its offices in Torino and Bologna. Since 1998 the company has focused on software products for so called Sheet Metal applications, i.e. applications to measure and design large metallic parts. The Customers are to be found in the automotive and aerospace industries. The Number of employees amounts to 26 and the net invoiced sales amounts to app. 25 MSEK. Mirai will continue as a separate entity within Hexagon Metrology and its founder, Mr Maurizio Schipa, will remain as C.E.O. The Product family Surfer NT will continue to be offered to other metrology suppliers. Mirai will develop a link to Hexagon Metrology's main soft ware PC-DMIS. Given this development PC-DMIS will be able to offer the same excellent functionality as Surfer NT for the sheet metal market. This, new integrated product, will be launched during the autumn of 2003. For further information, please contact: Ola Rollén, President and CEO Håkan Halén, CFO Hexagon AB Hexagon AB Phone: +46 (0)8 - 601 26 20 Phone: +46 (0)8 - 601 26 20 Hexagon AB is a multinational engineering group with the long-term ambition of positioning itself as number one or number two within its strategic sectors. The operation is divided into three business areas: Hexagon Automation, Hexagon Engineering and Hexagon Metrology. The group's targets are to increase earnings per share after tax by at least 15 per cent p.a., and achieve a return on capital employed higher than 15 per cent over the business cycle. Current turnover amounts to more than 7 GSEK p.a.