STOCKHOLM: Hexagon, a leader in digital reality solutions, has expanded its portfolio by acquiring Itus Digital, a specialist in asset performance management (APM) software based in Roanoke, Virginia.
This strategic move bolsters Hexagon’s HxGN EAM platform and complements its existing product range.
APM is a strategic approach in industrial operations aimed at boosting reliability, maximizing uptime, and minimizing costs. Itus Digital’s innovative SaaS solutions are pivotal in optimizing industrial asset performance.
The company’s APM platform oversees asset strategy and the digital twin lifecycle, focusing on risk management, asset protection, condition monitoring, and proactive response to emerging threats, ensuring seamless and continuous strategy optimization.
Effective immediately, Itus Digital will integrate into Hexagon’s Asset Lifecycle Intelligence division. The acquisition is set to contribute approximately 1 MEUR in revenues for 2024, with rapid growth anticipated, although initial profitability is projected to be lower than Hexagon’s average.
“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.”
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