On April 1, Hexagon AB announced the completion of its previously announced acquisition of ETQ, a provider of QMS (Quality Management System), EHS (Environment, Health and Safety) and SaaS-based compliance software. ETQ is expected to achieve sales of approximately $ 75 million in 2022 with an adjusted operating margin in excess of 35% (cash EBITDA margins of approximately 45%).
SaaS is expected to account for half of reservations in 2022 and is growing at a three-year compound annual growth rate (CAGR) of 60 percent. The transaction is expected to generate sales synergies of more than $ 40 million by 2026 with very strong incremental margins.
Completion of the transaction was subject to regulatory approvals and other customary closing conditions, which have now been met. ETQ will be consolidated on April 1, 2022 and will operate within the division Manufacturing Intelligence Hexagonu.
Source: Aktuality – 2D a 3D CAD Design Software by www.cad.cz.
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