Sweden-based Hexagon AB has entered into an agreement to acquire New York-based Infor’s global EAM (Enterprise Asset Management) business to for $2.75 billion in a combination of cash and stock.
The businesses will remain separate until the completion of the transaction, subject to regulatory approvals, but Hexagon and Infor will form a strategic relationship to better serve shared customers.
In addition, Infor and Koch Equity Development, both subsidiaries of Koch Industries, are building strategic relationships with Hexagon.
For Infor, the divestiture and strategic relationship positions the company to combine its EAM technology with Hexagon’s digital reality solutions – including sensor, software and autonomous technologies – to produce a better outcome for customers.
Infor is also enabled to further focus on its strategy of delivering industry-specific cloud ERP (Enterprise Resource Planning) suites (CloudSuites) that provide customers with sustained operational advantage and to maintain a long-term view of the market.
Koch and Hexagon have signed a memorandum of understanding to further expand the use of Infor EAM and Hexagon’s solutions.
“It (transaction) enables Infor to double-down on providing innovative, industry-specific solutions that help address our customers’ biggest business challenges,” said Infor CEO Kevin Samuelson.
“And it enables us to partner with a company that is in a unique position to drive further digital transformation for Infor EAM customers by integrating Infor EAM’s asset management capabilities with Hexagon’s digital reality solutions and platforms,” said Samuelson.
Ola Rollén, Hexagon president and CEO, said they can improve capital asset performance in ways beyond what EAM can achieve standalone – from enhancing predictive maintenance and reducing energy usage to supporting other sustainability initiatives.