Measurement technology company Hexagon is selling its software business for engineering simulation for 2.7 billion euro or 29.8 billion kronor. The deal is expected to be completed during the first quarter of next year.
The company purchased the Design & Engineering business, then under the name MSC Software, for 834 million dollars, equivalent to 7.9 billion kronor, eight years ago.
"Today's announcement is a step in our plan to streamline Hexagon's portfolio and focus on the collection, measurement and use of real data, while strengthening our financial flexibility", says Hexagon's Chairman of the Board Ola Rollén according to a press release.
