Hexagon accelerates the shift to fully autonomous mines with acquisition of indurad
Hexagon has announced the acquisition of indurad, a German-based leader in radar and Real-Time Location Systems technologies, along with its autonomous haulage subsidiary, xtonomy. The acquisition aims to enhance mine safety through advanced radar-based collision avoidance systems and increase productivity via real-time ore tracking. indurad reported revenues of approximately 19 MEUR in 2023 and has 140 employees globally. The transaction is expected to close in late November, with indurad being consolidated into Hexagon's Autonomous Solutions division. While initially below Hexagon Group levels, profitability is expected to improve as synergies are realized.
Hexagon ha annunciato l'acquisizione di indurad, un leader tedesco nelle tecnologie radar e dei Sistemi di Localizzazione in Tempo Reale, insieme alla sua controllata per il trasporto autonomo, xtonomy. L'acquisizione mira a migliorare la sicurezza nei minieri grazie a sistemi avanzati di prevenzione delle collisioni basati su radar e ad aumentare la produttività tramite il monitoraggio in tempo reale del minerale. Indurad ha riportato ricavi di circa 19 MEUR nel 2023 e conta 140 dipendenti a livello globale. La transazione dovrebbe chiudersi a fine novembre, con indurad che sarà consolidata nella divisione Soluzioni Autonome di Hexagon. Sebbene inizialmente i livelli di redditività siano inferiori a quelli del Gruppo Hexagon, si prevede un miglioramento man mano che si realizzeranno sinergie.
Hexagon ha anunciado la adquisición de indurad, un líder alemán en tecnologías de radar y Sistemas de Localización en Tiempo Real, junto con su filial de transporte autónomo, xtonomy. La adquisición tiene como objetivo mejorar la seguridad en las minas a través de sistemas avanzados de evitación de colisiones basados en radar y aumentar la productividad mediante el seguimiento en tiempo real del mineral. indurad reportó ingresos de aproximadamente 19 MEUR en 2023 y cuenta con 140 empleados a nivel mundial. Se espera que la transacción se cierre a finales de noviembre, con indurad siendo consolidada en la división de Soluciones Autónomas de Hexagon. Aunque inicialmente la rentabilidad estará por debajo de los niveles del Grupo Hexagon, se espera que mejore a medida que se realicen sinergias.
Hexagon은 독일에 본사를 둔 레이더 및 실시간 위치 시스템 기술의 선두주자인 indurad와 자율 운송 자회사 xtonomy의 인수를 발표했습니다. 이번 인수는 첨단 레이더 기반 충돌 회피 시스템을 통해 채굴 안전성을 개선하고 실시간 광석 추적을 통해 생산성을 증가시키는 것을 목표로 하고 있습니다. indurad는 2023년에 약 1900만 유로의 매출을 기록했으며, 전 세계적으로 140명의 직원을 두고 있습니다. 거래는 11월 말에 마감될 것으로 예상되며, indurad는 Hexagon의 자율 솔루션 부서에 통합될 것입니다. 초기에는 Hexagon 그룹의 수준 아래일 것으로 예상되지만, 시너지가 실현됨에 따라 수익성이 개선될 것으로 기대됩니다.
Hexagon a annoncé l'acquisition de indurad, un leader basé en Allemagne dans les technologies de radar et de systèmes de localisation en temps réel, ainsi que de sa filiale de transport autonome, xtonomy. L'acquisition vise à améliorer la sécurité des mines grâce à des systèmes avancés d'évitement des collisions basés sur le radar et à accroître la productivité grâce au suivi en temps réel des minerais. Indurad a déclaré des revenus d'environ 19 MEUR en 2023 et compte 140 employés dans le monde. La transaction devrait être finalisée fin novembre, indurad étant intégrée dans la division Solutions Autonomes de Hexagon. Bien que la rentabilité soit initialement inférieure aux niveaux du groupe Hexagon, une amélioration est attendue à mesure que les synergies se réalisent.
Hexagon hat die Übernahme von indurad angekündigt, einem führenden deutschen Unternehmen im Bereich Radar- und Echtzeit-Standortsystemtechnologien, sowie dessen Tochtergesellschaft für autonome Transporte, xtonomy. Ziel der Übernahme ist es, die Sicherheit in der Mine durch fortschrittliche radarbasierte Kollisionsvermeidungssysteme zu verbessern und die Produktivität durch die Echtzeitverfolgung von Erzen zu steigern. indurad meldete 2023 Einnahmen von etwa 19 Millionen Euro und beschäftigt weltweit 140 Mitarbeiter. Der Abschluss der Transaktion wird für Ende November erwartet, wobei indurad in die Sparte Autonome Lösungen von Hexagon integriert wird. Obwohl die Rentabilität zunächst unter dem Niveau der Hexagon-Gruppe liegen wird, wird eine Verbesserung erwartet, sobald Synergien realisiert werden.
- Strategic acquisition enhancing Hexagon's autonomous mining capabilities
- indurad's 19 MEUR revenue stream addition to Hexagon's portfolio
- Expansion of technology portfolio with radar and RTLS systems
- Expected synergies to improve profitability over time
- indurad's initial profitability below Hexagon Group levels
- Integration costs and risks associated with the acquisition
Insights
This strategic acquisition strengthens Hexagon's position in the mining automation sector, adding critical radar and RTLS technologies to their portfolio. The deal, valued at approximately
The integration of indurad's radar-based systems with Hexagon's existing solutions creates a more comprehensive offering in mine safety and automation. While indurad's current profitability is below Hexagon's standards, the expected synergies and growing demand for autonomous mining solutions present significant upside potential.
Key value drivers include:
- Enhanced product portfolio with proprietary radar technology
- Cross-selling opportunities across Hexagon's global customer base
- Acceleration of autonomous mining solutions development
- Geographic expansion potential through Hexagon's established channels
The timing aligns with the mining industry's increasing focus on automation and safety, positioning Hexagon to capture growing market share in the digital mining transformation space.
Key Benefits of the Acquisition:
- Enhanced Mine Safety: indurad's advanced radar-based collision avoidance systems mitigate risks in high-stakes mining environments.
- Increased Productivity: Real-time ore tracking and measurement help automate mine workflows, reducing downtime and inefficiencies.
- Future-Ready Autonomy: indurad's mobile machine automation expertise and OEM-agnostic autonomy platform combined with Hexagon's existing technologies accelerate the shift to fully autonomous mines.
"This acquisition represents another step towards realising our vision of fully connected and integrated mine workflows," said Norbert Hanke, Interim President and CEO of Hexagon. "indurad's radar technology aligns perfectly with our focus on safety and autonomy, and we are excited to integrate their capabilities into our portfolio to unlock its full potential."
Based in
The transaction is expected to close in late November, at which point indurad will be fully consolidated into Hexagon's Autonomous Solutions division. In 2023, indurad reported revenues of approximately 19 MEUR, with profitability initially below Hexagon Group levels but expected to improve as synergies are realised. The company has 140 employees globally.
For further information, please contact:
Tom Hull, Head of Investor Relations, Hexagon AB, +44 7442 678 437, ir@hexagon.com
Anton Heikenström, Investor Relations Manager, Hexagon AB, +46 8 601 26 26, ir@hexagon.com
Hexagon is the global leader in precision technologies at any scale. Our digital twins, robotics and AI solutions are transforming the industries that shape our reality.
Hexagon's Autonomous Solutions (Mining) division solves surface and underground mine challenges with proven technologies for planning operations and safety.
Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,500 employees in 50 countries and net sales of approximately
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SOURCE Hexagon
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