Hexagon has acquired all outstanding shares of the Spanish company Santiago & Cintra Ibérica S.A. .
Santiago & Cintra is a leading distributor and service provider for positioning solutions in applications such as geomatics, GIS & mapping, and machine control for agriculture and construction. The company currently has 48 employees operating out of the headquarters in Madrid and three sales offices in Valencia, Barcelona and Seville.
“The acquisition of Santiago & Cintra is yet a further step in Hexagon’s global growth strategy. The company will solidify Hexagon’s strong position in the surveying and civil engineering market segments, as well as set a solid foundation for Hexagon’s market leadership and further expansion in the rapidly growing market for machine control in Spain”, says Ola Rollén, CEO and President of Hexagon.
Santiago & Cintra had a turnover of approximately 140 MSEK in 2007 and has shown double digit sales growth over the last years. The company will be fully consolidated as of 1 March 2008 and will immediately contribute to Hexagon’s earnings.