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Hexagon Acquires Romax Technology to Enhance Smart Factory Solutions in Electric Vehicles
Tuesday 03 March 2020

3 March 2020 - Swedish sensor, software and autonomous solutions company Hexagon AB has agreed to acquire engineering software provider Romax Technology Ltd., focussed on electromechanical drivetrain design and simulation, to strengthen smart factory solutions, the company said.

Terms of the transaction were not disclosed.

Romax Nexus, provides a complete workflow for designing, simulating and delivering the next generation of energy efficient drive and power generation systems, enabling engineers to collaborate and optimise electrical and mechanical design simultaneously.

The acquisition of Romax Technology enables Hexagon to meet the growing need for electrification, providing customers with integrated tools that empower engineering teams to develop the next generation of energy-efficient electric vehicles.

Electrification is a growing trend in automotive and aerospace but also presents new opportunities for Hexagon in the development of renewable energy systems.

Headquartered in Nottingham, UK, Romax Technology has approximately 240 employees globally serving more than 250 customers in the automotive, aerospace, wind power, marine, bearing and rail industries.

The company will operate as part of Hexagon's Manufacturing Intelligence division.
Details
Date Published: 03/03/2020
Target: Romax Technology Ltd
Country: UK
Sector: Computer Software
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor:
Buyer: Hexagon AB
Comment:
Terms of the deal were not disclosed

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