Hexagon acquires GAMFI International

Hexagon acquires GAMFI International

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Switzerland, 16 May 2007: Hexagon, the parent company of Leica Geosystems, has entered into an agreement to acquire all outstanding shares of the French group of companies GAMFI International (GAMFI group).

“The acquisition of the GAMFI group is an important step in the overall growth strategy in the core construction market. The group’s worldwide distribution and established portfolio of brands in combination with its research and development and production capabilities complement our current business model”, says Ola Rollen, CEO and President of Hexagon AB.

“The GAMFI group will be consolidated as of 1 July 2007 and will immediately contribute to Hexagon’s earnings. The deal is conditioned by approval of competition authorities concerned.” says Ola Rollén. He adds, “The companies within the GAMFI group will continue to operate largely as independent companies and will continue to focus on servicing their brands and OEM customers.”

The GAMFI group is a provider of laser tools and instrumentation that operates under different brands such as AGL, QBL and AGATEC. It owns research and development and manufacturing sites in USA, Europe and China.The GAMFI group had a turnover of 32 MEUR in 2006 and has shown consistent growth, especially in the rotation laser business.