Switzerland – Hexagon, the parent company of Leica Geosystems, has entered into an agreement to acquire all assets of Rinex Technologies in Perth, Australia. Rinex develops and supplies hardware and software for agricultural tractor and combine guidance. The company was founded in 1995 and today employs 20 people.
“The acquisition of Rinex is a vital piece in Hexagon’s growth strategy and commitment to global expansion within the agriculture market segment. We are today active in the field of high precision GPS tractor guidance via our subsidiary Leica Geosystems in Brisbane, Australia. The product portfolio of Rinex in the field of tractor guidance applications and boom section control will complement our product portfolio and provide our customers in farming with a broader product offering. We will also be able to reach synergies in sales and marketing as Rinex’s strong position in Australian distribution and sprayer market complements Leica Geosystems’ position in Europe and the US”, says Ola Rollén, CEO and President of Hexagon AB.
Rinex will be fully consolidated as of 13 October 2008 and will immediately contribute to Hexagon’s earnings.