Hexagon has acquired the remaining 49 per cent of Wuhan ZG Automation Technology Co., Ltd ("ZG Technology"), bringing its ownership of the Wuhan-based 3D scanning specialist to 100 per cent. Hexagon acquired a 51 per cent majority stake in August 2021 and has consolidated ZG within its Manufacturing Intelligence Business Area since that time.
Founded in 2014 and built on the photogrammetry and remote sensing disciplines of Wuhan University, ZG develops handheld 3D scanning technology, with a portfolio developed in-house and supported by its own software copyrights and patents. Its scanners are used for quality inspection, reverse engineering and the digitisation of complex parts across automotive, aerospace, rail, heavy industry, casting, medical and research applications.
"With ZG now wholly owned, Hexagon gains unrestricted access to its intellectual property, removing barriers to joint R&D and enabling a single, unified handheld scanning platform across the Manufacturing Intelligence portfolio," said Li Hongquan, President, China Region, Hexagon. "We can invest in R&D at pace, develop one handheld platform rather than two, and put ZG's scanners in front of customers well beyond China. ZG becomes our centre of excellence for portable metrology, and Wuhan becomes a place where we build technology for the world."
The acquisition has no material impact on Hexagon's financial results.
For further information, please contact:
Tom Hull, Head of Investor Relations, Hexagon AB, +44 7442 678 437, ir@hexagon.com