NACKA STRAND, Sweden — (BUSINESS WIRE) — May 22, 2012 — Regulatory News:
Hexagon AB (STO: HEXAB), leading global provider of design, measurement and visualisation technologies, has acquired all shares in the Norwegian company My Virtual Reality Software AS (myVR).
myVR provides software that offers a solution for 2D, 3D and 360-degree viewing for desktop and mobile. The company has developed a patented technology platform that enables high-resolution real-time viewing of interactive maps over networks with limited bandwidth. The platform makes it possible to view large-scale models on any 3D hardware-supported client platform, including mobile phones and tablets.
“The acquisition of myVR will be of great value for Hexagon's current offerings. Everything is going mobile, including our customer offerings,” said Ola Rollén, President and CEO, Hexagon AB. “In the past, the problem with displaying 3D data on a mobile device such as a tablet has been size limitations of data transfers, and also the ability to handle the transfer in a real-time environment. myVR has a unique solution to this problem, and Hexagon will make use of its technology in all of our divisions.”
Founded in 2003, myVR provides real-time, 3D virtual technology to the Oil & Gas, Building & Construction, Government and Web Portals industries, as well as other traditional and emerging digital markets.
myVR will be fully consolidated as of today. The acquisition will not have any visible impact on Hexagon's earnings in the short-term.
Hexagon is a leading global provider of design, measurement and visualisation technologies. Our customers can design, measure and position objects, and process and present data, to stay one step ahead of a changing world. Hexagon’s solutions increase productivity, enhance quality and allow for faster, better operational decisions, saving time, money and resources. Hexagon has over 13 000 employees in more than 40 countries and net sales of about 2 200 MEUR. Our products are used in a broad range of industries including surveying, power and energy, aerospace and defence, safety and security, construction and manufacturing. Learn more at www.hexagon.com.
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