Monday, May 20, 2024

Hexagon Acquires Itus Digital to Expand its Asset Performance Management Capabilities

STOCKHOLM, Sweden, Apr 4, 2024 – Hexagon, the global leader in digital reality solutions, combining sensor, software and autonomous technologies, today announced the acquisition of Itus Digital, a Roanoke, Virginia-based provider of asset performance management (APM) software. Itus’s capabilities directly compliment Hexagon’s HxGN EAM platform, as well as other Hexagon products. Asset performance management is an approach to industrial operations that focuses on optimizing reliability, improving uptime, and reducing cost.

Itus Digital provides SaaS-based innovative solutions that help optimise the performance of industrial assets. Its APM platform manages the entire asset strategy and digital twin lifecycle to identify and prioritise asset risk exposure, safeguard assets against known failure modes, monitor asset condition and performance and take timely measures when risks increase or threats emerge. The platform is designed for effortless implementation and swift, ongoing optimisation of asset strategies.

“We are excited to welcome Itus Digital to Hexagon,” said Paolo Guglielmini, President and CEO, Hexagon. “This strategic acquisition, combined with our market-leading EAM platform, allows customers to further improve asset reliability and availability, minimising downtime and costs. These solutions provide significant opportunities to customers of any size or within any vertical.”

Itus Digital will be fully consolidated as of today, operating within Hexagon’s Asset Lifecycle Intelligence division. Itus Digital is expected to generate revenues of around 1 MEUR in 2024, growing quickly, with a profitability level initially below that of Hexagon.

About Hexagon

Hexagon is the global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications. 

Our technologies are shaping production and people related ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future.

Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,500 employees in 50 countries and net sales of approximately 5.4bn EUR. Learn more at hexagon.com and follow us @HexagonAB

Nitin Patil
Nitin Patil
Editor and Director of Content, DailyCADCAM.com. Nitin completed his Master's in Mass Communication & Journalism and having 13 years of work experience as an editor, content writer with renowned international technical magazines and media companies. He is associated with CAD,CAM industry since 2008.
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