Press Release -- September 5, 2007 -- Hexagon Acquires Non-Contact Measurement Company CogniTens Ltd.
P R E S S R E L E A S E Hexagon Metrology Press Contact: Belinda Jones, HiTech Marketing llc, (860) 399-1147, belinda.jones@hitechmarketing.com Hexagon Metrology Marketing Contact: Bill Fetter, Hexagon Metrology, Inc., (920) 906-7514, william.fetter@hexagonmetrology.com Link to Press Release: http://www.hexagonmetrology.us/press-releases/hexagon-acquires-non-contact-measurement-company-cognitens-ltd?Itemid=20 Hexagon Acquires Non-Contact Measurement Company CogniTens Ltd. North Kingstown, RI -- September 5, 2007 -- Hexagon AB has announced it has entered into an agreement to acquire all outstanding shares of CogniTens Ltd., a leading provider of shop floor non-contact dimensional measurement solutions. The company will be integrated into Hexagon Metrology, the world's largest industrial measurement group, incorporating industry leading brands Brown & Sharpe, DEA, Leitz, Leica Geosystems, Sheffield, ROMER, PC-DMIS and TESA. CogniTens product portfolio is built on the concept of providing manufacturers with full surface and feature measurements using advanced 3D optical technology, available as both portable solutions and integrated cells. The company's dimensional measurement solutions are especially designed for use in demanding engineering and shop floor environments of automotive and other manufacturing industries. Leading automotive OEM's around the world are already implementing CongiTens' products in engineering and manufacturing applications. As part of Hexagon Metrology, CogniTens will continue to develop and introduce new products, closely support installations and provide value added services for the benefit of its global customer base. CogniTens customers will enjoy enhanced support from the globally diverse Hexagon Metrology network with local support and service from over sixty local offices worldwide. "The acquisition of CogniTens gives Hexagon an exciting new technology in the high speed, non contact, shop floor measurement and scanning segment of the metrology market. This addition in technology and market proven products will enable Hexagon to position itself in all segments of the rapidly growing non contact sheet metal market combining CogniTens 3D measurement products with the laser tracker technologies from Leica Geosystems and the articulated arms technologies from ROMER", says Ola Rollén, CEO and President of Hexagon AB. "We are excited to join the world's premier metrology group and believe our customers will benefit from combining CogniTens innovative technology and products with Hexagon's ability to deliver broad solution offerings on a global scale", says Ofer Sandelson, President and CEO of CogniTens Ltd. About CogniTens Ltd. CogniTens is a leading provider of comprehensive dimensional measurement solutions, focused on improving engineering and manufacturing processes in the automotive and other manufacturing industries. Through solutions based on innovations in 3-D non-contact measurement technology, especially designed for manufacturing environments, CogniTens allows its customers to significantly improve product quality, shorten development cycles, and cut manufacturing costs. CogniTens' solutions enable its customers to run efficient vehicle development processes and production launches. Headquartered in Israel, Cognitens maintains local U.S. offices in Wixom, Michigan. www.CogniTens.com About Hexagon Metrology Hexagon Metrology serves the high precision measurement and inspection needs of worldwide manufacturers with its extensive line of metrology hardware, software, accessories, and customer services. The company's name-brand portfolio of quality assurance products include Brown & Sharpe, Leica Geosystems, ROMER, Sheffield, PC-DMIS, DEA, Leitz, and TESA. Hexagon Metrology has an unrivaled installed base of more than 1.5 million handheld, stationary and portable measurement devices, and over 30,000 seats of PC-DMIS metrology software. The company is a subsidiary of Hexagon Measurement Technologies, a business unit of Hexagon AB (Nacka Strand, Sweden), a publicly-traded company (Stockholmsborsen: HEXA B). The Hexagon group consists of nearly 8,200 employees located in 30 countries. www.HexagonMetrology.us -- 30 --