09192017Headline:

Hexagon Accelerates its Simulation Portfolio and Autonomous X strategy With the Acquisition of VIRES

May 15, 2017 - (Newswire)

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Hexagon, a leading global provider of information technology solutions, today announced the acquisition of VIRES, a German-based, leading provider of simulation software solutions that support the development, testing and validation of driver-assisted and fully autonomous driving technology.

VIRES's proven simulation solutions have been recognised for their robustness, performance and ease of building simulation environments for over 20 years. Their worldwide customer list spans prominent automotive OEMs and suppliers as well as recent entrants to the automotive market to companies in the railway and aerospace industries and elite universities involved in shaping the future of mobility.

"The VIRES acquisition strengthens our CAE (simulation) platform with an industry-proven solution", says Hexagon President and CEO Ola Rollén. "It also supports our overall autonomous X vision - to deliver a software-driven, intelligent ecosystem that leverages our expertise in 3D mapping and other essential sensor technologies to make safe, autonomous vehicles a reality."

The company's core product, VIRES Virtual Test Drive (VTD), supports a wide range of additional tools and services. As a main contributor to the industrial consortia behind interoperability standards, VIRES is a driving force in automotive simulator technology.

VIRES will be fully consolidated as of today. The acquisition has no significant impact on Hexagon's earnings.

For further information, please contact:

Maria Luthstrom,
Investor Relations Manager,
Hexagon AB
+46-8-601-26-27,
ir@hexagon.com

Kristin Christensen
Chief Marketing Officer,
Hexagon AB
+1 -04-554-0972,
media@hexagon.com

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Press release

SOURCE Hexagon

Original Source: https://www.newswire.com/news/hexagon-accelerates-its-simulation-portfolio-and-autonomous-x-strategy-with-the

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