Hexagon eyes visualization tech growth through bolt-on acquisition

Hexagon, a Sweden-based precision measuring technology company, has acquired Thermopylae Sciences and Technology to grow a portfolio of multi-dimensional visualization products used in the creation of tactical edge maps.

Terms of the transaction were undisclosed but Thermopylae generated approximately $20 million in revenue for 2017, Hexagon said Monday. Arlington, Virginia-based Thermopylae will become a part of Hexagon’s geospatial division that resides in their larger geospatial enterprise solutions segment.

Founded in 2007, Thermoplaye concentrates on geospatial applications, mobile frameworks, situational awareness and cloud computing tools to support location intelligence functions for federal agencies including the U.S. military.

Hexagon also operates a Chantilly, Virginia-headquartered independent subsidiary focused on the U.S. federal market that provides agencies integrated geospatial and other technical offerings.

"This acquisition will help strengthen the solutions provided by Hexagon's geospatial division, including those sold through Hexagon US Federal," Hexagon Chief Marketing Officer Kristin Christensen said in an emailed statement to WT.

With the addition of Thermoplaye, Hexagon hopes to greater enable what it calls a five-dimensional experience for users in the visual location intelligence arena to help enable autonomous connected ecosystems.

Hexagon CEO Ola Rollen said in a release the company wants to “enable smart digital realities with 3D, 4D (real-time sensor feed integration) and 5D (dynamic analytics) capabilities.”

The deal also provides “an additional avenue for Hexagon to accelerate adoption of our 5D (visualization) capabilities in U.S. government agencies,” Rollen added.

Thermoplaye’s products are built upon the Google technology stack but intended for use in secure or classified environments.

The transaction is subject to review by the Committee on Foreign Investment in the United States.