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Archive for the ‘Hexagon’ Category

Funding the acquisition of Intergraph means selling bonds for Hexagon

Tuesday, October 12th, 2010

Hexagon AB plans to sell bonds to refinance part of the loans used to fund the acquisition of Intergraph Corp.

According to the article below, “The company plans to raise $850 million from a share sale to help refinance some of the debt after it completes the purchase. Hexagon said on July 7 it agreed to buy Huntsville, Alabama-based Intergraph for $2.13 billion to add software that helps companies visualize complex data and design factories, ships and oil rigs.”

Hexagon Plans Bond Sale to Retire Intergraph Acquisition Loans Bloomberg Business Week, October 12, 2010

More on acquisition of Intergraph by Hexagon AB

Wednesday, July 14th, 2010

A reader suggested I post this on GISCafe Today, as it ran yesterday on AECCafe Today:

The recent announcement that Intergraph has signed a definitive agreement to be acquired by Hexagon AB, raised questions among the media. Hexagon AB is a global measurement technology company, and the transaction is valued at approximately $2.125 billion.

According to the press release, “Upon closing of the transaction, Intergraph will operate as a separate Hexagon division under the Intergraph name and branding.  Intergraph will become Hexagon’s core software platform and will continue to provide differentiated and vertically-focused software solutions to its core industries.  Intergraph software will also be integrated into Hexagon’s existing measurement and precision technology system markets to provide a visual presentation layer for the management, analysis and sharing of the vast amounts of critical data produced by these products.”

Intergraph customers are assured that “upon closing of the transaction, Intergraph will operate as a separate Hexagon division under the Intergraph name and branding.  Intergraph will become Hexagon’s core software platform and will continue to provide differentiated and vertically-focused software solutions to its core industries.  Intergraph software will also be integrated into Hexagon’s existing measurement and precision technology system markets to provide a visual presentation layer for the management, analysis and sharing of the vast amounts of critical data produced by these products.”

One question that arose among those of us who have followed Intergraph since the days when Bentley Systems was owned by Intergraph, is: does Intergraph still own 30 percenet of Bentley Systems, and if so, how is Bentley affected by the recent news of this acquisition?

Chris Barron, vice president of corporate marketing for Bentley, responded:  ”As a privately held company, Bentley does not routinely report on the identity of its minority stockholders or the stockholders or the size of their holdings. However, in response to your question, we can advise you that the Bentley shares previously held by Intergraph were transferred to an affiliate of its private equity owners following its going private transaction in 2006 and we have no indications that those shares are part of the sale to Hexagon.” 

In 2006, Intergraph was acquired by an investor group led by Hellman & Friedman LLC, TPG Capital and JMI Equity.  Pending regulatory approvals, as well as satisfaction of other customary closing conditions, the transaction is expected to be completed in the third or fourth quarter of 2010.
Incidentally, Hexagon AB is also the parent company for ERDAS, Inc., a company that focuses on incorporating geospatial earth information into businesses’ existing systems and data. ERDAS states that for the immediate future, they do not foresee any change in business as a result of the Intergraph acquisition.

Intergraph to be acquired by Hexagon AB

Wednesday, July 7th, 2010

In a press release today, “Intergraph Corp. announced it has signed a definitive agreement to be acquired by Hexagon AB, a leading global measurement technology company, in a transaction valued at approximately $2.125 billion.

Upon closing of the transaction, Intergraph will operate as a separate Hexagon division under the Intergraph name and branding.

Intergraph will become Hexagon’s core software platform and will continue to provide differentiated and vertically-focused software solutions to its core industries.  Intergraph software will also be integrated into Hexagon’s existing measurement and precision technology system markets to provide a visual presentation layer for the management, analysis and sharing of the vast amounts of critical data produced by these products.

In 2006, Intergraph was acquired by an investor group led by Hellman & Friedman LLC, TPG Capital and JMI Equity. “

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