NACKA STRAND, Sweden — (BUSINESS WIRE) — March 23, 2016 — Hexagon AB (STO: HEXAB), a leading global provider of information technologies that drive productivity and quality across geospatial and industrial enterprise applications, today announced the acquisition of Forming Technology Inc. (FTI), a provider of innovative manufacturing software solutions designed to reduce the development time and material costs of sheet metal components.
Sheet metal is used extensively in the production of car bodies, aircraft, electronics enclosures and many other applications. Rapid, cost-efficient design and manufacturing of sheet metal components is key to addressing the rising challenges of manufacturing efficiencies.
Founded in 1989 and based in Burlington, Ontario (Canada), FTI serves original equipment manufacturers (OEMs) and suppliers in the automotive, aerospace, electronics, and appliance industries with sheet metal design, simulation, feasibility, and costing solutions. Its leading-edge technology portfolio, sold through an international network of reseller partners, coupled with its engineering services and years of expertise in the sheet metal industry, enables customers to validate designs before they go into production and immediately reduce labour and material costs.
“Closing the manufacturing feedback loop to enhance quality and productivity is an integral part of our solutions strategy,” said Hexagon President and CEO Ola Rollén. “Combining FTI’s CAE (computer-aided engineering) technologies and knowledge of automotive sheet metal applications with our CAM (computer-aided manufacturing) and metrology solutions will enable us to deliver substantial productivity gains to our automotive customers.”
FTI will be fully consolidated as of today. The acquisition has no significant impact on Hexagon's earnings.
Hexagon is a leading global provider of information technologies that drive productivity and quality across geospatial and industrial enterprise applications. Hexagon's solutions integrate sensors, software, domain knowledge and customer workflows into intelligent information ecosystems that deliver actionable information. They are used in a broad range of vital industries. Hexagon (Nasdaq Stockholm: HEXA B) has more than 16,000 employees in 46 countries and net sales of approximately 3.0bn EUR. Learn more at www.hexagon.com and follow us @HexagonAB.
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