"Adding an enterprise asset management system to our portfolio puts us in a unique position to drive further digital transformation across our customer base," Rollen added. The businesses will remain separate until the completion of the transaction, subject to regulatory approvals, but Hexagon and Infor. Hexagon said it expected the acquisition would generate it additional sales worth $100 million by 2026. 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. Infor EAM's expected revenue for 2021 is $184 million, Hexagon said, adding that the business had been growing at a compound rate of 35% in the last three years. The transaction, which is subject to regulatory approval, would leave Koch owning a stake of almost 5% in Hexagon.
The sale comprises $800 million in cash and 132 million shares, worth about $1.95 billion, in the form of shares paid to Koch. Shares in the company were up by just over 2% at 0817 GMT. Hexagon has transformed itself from a conglomerate to an industrial technology company through a series of acquisitions over the last decade. Infor's EAM is software used by industrial companies to track assets, digitalise maintenance operations and improve digital operations.
"Infor EAM is continuously ranked by analysts as a market leader among best-of-breed EAM solutions and is considered by thousands of customers as one of the industry's most compelling solutions," Hexagon CEO Ola Rollen said in a statement. The deal also creates ties between Hexagon and Koch Industries - which owns Infor - through a memorandum of understanding, which will see expanded use of EAM in Koch businesses and cross-selling opportunities between customers.
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