Hexagon acquires optical measurement company in Israel

Hexagon has entered into an agreement to acquire all outstanding shares of CogniTens Ltd., a 3D non contact measurement technologies company.

CogniTens is built on the concept of providing manufacturers with full surface and features measurements using advanced 3D optical technology. The company's dimensional measurement solutions are especially designed for use in demanding engineering and shop floor environments of automotive and other manufacturing industries.

CogniTens' sales in 2007 are estimated to be approximately 8 MUSD, and are expected to grow in double digits in the following years. CogniTens is headquartered in Israel, and employs about 50 people supporting the company's growing installed base at the world's leading automotive OEMs and suppliers. Today the company has distribution and sales channels mainly in the USA and Japan.

"The acquisition of CogniTens gives Hexagon an exciting new technology in the high speed, non contact, shop floor measurement and scanning segment of the metrology market. This addition in technology and market proven products will enable Hexagon to position itself in all segments of the rapidly growing non contact sheet metal market combining CogniTens 3D measurement products with the laser tracker technologies from Leica Geosystems and the articulated arms technologies from Romer", says Ola Rollén, CEO and President of Hexagon AB.

"We are excited to join the world's premier metrology group and believe our customers will benefit from combining CogniTens innovative technology and products with Hexagon's ability to deliver broad solution offerings on a global scale", says Ofer Sandelson, President and CEO of CogniTens Ltd.

CogniTens will be consolidated as of 1 September 2007. CogniTens will break even during the second half of 2007 and contribute to Hexagon's earnings during 2008.