Demonstrates Union Square Advisors’ continued momentum in providing strategic M&A advice to disruptive software companies
On February 25, 2019, Hexagon AB announced the signing of an agreement to acquire Thermopylae Sciences & Technology, a software provider primarily focused on the U.S. government and defense market that specializes in geospatial applications, mobile frameworks, and cloud computing for enhanced location intelligence.
Thermopylae has developed advanced visualization solutions to support tactical edge mapping in support of mission critical operations. Built upon the Google technology stack, its defense and intelligence solutions are targeted at addressing the challenges involved in working with critical problem sets in secure or classified government environments. In addition, its portfolio is also applicable to a host of markets in the private sector including real estate, finance, insurance, retail and media – with customers ranging from start-ups to Fortune 50 companies.
“Thermopylae’s software and domain expertise nicely augment our ability to deliver the visual location intelligence necessary for enabling autonomous connected ecosystems,” says Hexagon President and CEO Ola Rollén. “Ultimately, the addition of Thermopylae will enrich the 5D experience delivered through our Hexagon Smart M.App and Luciad portfolios – both of which enable smart digital realities with 3D, 4D (real-time sensor feed integration) and 5D (dynamic analytics) capabilities. Not only does the acquisition provide an avenue for international market adoption of Thermopylae’s technologies but also an additional avenue for Hexagon to accelerate adoption of our 5D visualization capabilities in U.S. government agencies.”
Headquartered in Arlington, VA, USA, Thermopylae will operate as a part of Hexagon’s Geospatial division, which is reported under the Geospatial Enterprise Solutions segment. 2017 sales amounted to $20MM USD.
Completion of the transaction (closing) is subject to customary regulatory approvals, including a voluntary filing to the Committee on Foreign Investment in the United States (CFIUS).
About Thermopylae Sciences & Technology
Thermopylae is a specialized geospatial mapping software provider. The Company has developed advanced visualization solutions to support tactical edge mapping in support of mission critical operations. Thermopylae excels in Web-based geospatial visualization capabilities, mobile software framework and applications, situational awareness and cloud computing to enhance location intelligence. For more information, please visit www.t-sciences.com.
About Hexagon AB
Hexagon is a global leader in digital solutions that create Autonomous Connected Ecosystems (ACE), a state where data is connected seamlessly through the convergence of the physical world with the digital, and intelligence is built-in to all processes. Hexagon’s industry-specific solutions leverage domain expertise in sensor technologies, software, and data orchestration to create Smart Digital Realities™ that improve productivity and quality across manufacturing, infrastructure, safety and mobility applications. Hexagon (Nasdaq Stockholm: HEXA B) has approximately 20,000 employees in 50 countries and net sales of approximately €3.8BN EUR. For more information, please visit www.hexagon.com.
About Union Square Advisors
Union Square Advisors is a leading technology-focused investment bank that offers strategic mergers & acquisitions advice and execution as well as agented private capital financing services. Founded in 2007, with offices in San Francisco and New York, Union Square Advisors works with leading public and private technology companies, private equity and venture capital firms across the technology landscape with a primary focus on Software, Software-Enabled Services, IT Infrastructure and Internet/Digital Media/Marketing Technology. Since inception, Union Square Advisors has advised on over 100 transactions, valued in excess of $95 billion. For more information, please visit www.usadvisors.com.