Hexagon to acquire software maker Intergraph for $2.125b
HUNTSVILLE, Ala.—Intergraph, a global software maker, based here and playing in the security market as a command-and-control software provider, has reached an agreement to be acquired by Swedish manufacturer Hexagon, for roughly $2.125 billion. As a manufacturer of “solutions that capture rich geospatial data using aerial and ground based point cloud sensor technology,” Hexagon sees Intergraph’s software, which aggregates and organizes the data captured by those products, as highly complementary, as is Intergraph’s customer base.
The deal is subject to regulatory approval, which may take as many as three months.
Intergraph had a dip in sales last year, from $808 million in 2008 to $770 million in 2009, but realized a growth in EBITDA, according to numbers in a press release, moving from $182 million to $189 million. The companies projects sales of $830-840 million in 2010, with EBITDA of $200-210 million.
Hexagon spokesperson Sara Kraft Westrell said the company has been “somewhat involved in the security industry, but not heavily involved like Intergraph.” However, Hexagon feels security is “a very interesting industry that we look forward to looking into once we’ve closed the deal.” Considering the company’s acquisition history, she predicted Intergraph would be run as an operating subsidiary and that the brand will remain market-facing.