STOCKHOLM, Sweden – Hexagon announced this week it has entered into a definitive agreement to acquire all outstanding shares in Russia-based Navgeocom, the largest distributor for Leica Geosystems in the Russian Federation, doing about 10 million Euro annually.
Founded in 1997, Hexagon described Navgeocom as “one of the top-tier distributors of surveying and mapping products in Russia.” The company said the acquisition is in line with the company’s global distribution strategy, “which aims to establish a strong direct presence in all key markets.”
“Strategically, the acquisition of Navgeocom is a great fit for Hexagon and yet another step toward expanding our presence in Russia and Central Asia. Furthermore, Russia is entering into a phase of significant investment in transport infrastructure,” said Hexagon AB president and CEO Ola Rollén, in a statement. “In addition to Russian highways, it includes significantly increasing the size of Moscow and surrounding its perimeter with a motorway, an expressway and high-speed rail system between Moscow and St. Petersburg, and an international transport passage programme between Europe and West China. Coupled with the acquisition, these projects provide substantial growth opportunities across Hexagon and improve our ability to serve customers in the Russian Federation.”
The transaction is subject to regulatory approval and customary closing conditions and is expected to close as of end of February 2013.
