Hexagon to acquire NovAtel Inc.
8 October 2007
Hexagon AB and NovAtel Inc have entered into a definitive agreement under which Hexagon has agreed to acquire all the outstanding shares of NovAtel for USD 50 per share.
NovAtel is a leading provider of precision Global Navigation Satellite System (GNSS) components and subsystems. NovAtel develops quality OEM products including receivers, enclosures, antennas and firmware that are integrated into high precision positioning applications worldwide. These applications include surveying, Geographical Information Systems (GIS) mapping, precision agriculture machine guidance, port automation, mining, timing and marine industries. NovAtel's reference receivers are also at the core of national aviation ground networks in the USA, Japan, Europe, China and India.
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Hexagon AB is a global technology group with strong market positions within measurement technologies, polymers and key components. Hexagon's vision is to be number one or number two in each strategic business area. The group has about 8 200 employees in 30 countries and net sales of about 13 500 MSEK.