Hexagon AB acquires Infor’s asset management applications business for $2.75bn to integrate with their digital solutions.
Infor, a New York-based Software Company recently announced the sale of its asset management applications business. The buyer was a Sweden-based industrial technology business named Hexagon AB, and the deal was valued at $2.75bn.
Hexagon’s “digital reality solutions” consisting of software, autonomous technologies, and sensors will be combined with the purchased asset management tools they have purchased from Infor.
What do they hope to accomplish with this deal?
Infor in the meantime will be focusing on cloud ERP suites designed according to specific industries. The idea behind this seems to be inspired by SAP that launched last year in June.
Kevin Samuelson, Infor’s CEO, stated that this deal would be enabling “Infor to double-down on providing innovative, industry-specific solutions that help address our customers’ biggest business challenges.” The newly acquired asset management capabilities will help them design, operate and decommission large capital-intensive machinery, such as oil rigs.
Ola Rollén, the CEO and president of Hexagon, spoke about this deal, saying it was a “strong endorsement of our mission to put data to work to enable autonomous, connected ecosystems that boost efficiency, productivity, quality and safety for our customers.”
Koch Industries had inquired Infor for $13bn last year and will have part ownership in Hexagon, and it will continue to play a role in this deal thanks to their ownership stake in Hexagon.
In addition, Koch’s President, Brett Watson, will be added to the Board of Directors within Hexagon once the deal is closed. Infor, before this, was held privately and was an applicant for an Initial Public Offering before Koch came in to buy off the rest of Infor. The cloud suites were already invested in by Koch Equity Development back in 2019 for $1.5bn.