Nacka Strand, Sweden – Metrology specialists Hexagon has completed the regulatory analysis of its purchase of Veripris, leading to write-downs of parts of the company’s business.
The write-down relates to overlapping technology between Veripos’ TerraStar positioning business and the existing network positioning business within Hexagon. The write-down also relates to obsolete GNSS technology within Veripos, which in the future will use NovAtel GNSS receivers instead of using an external supplier.
Hexagon’s earnings for the first quarter will, as previously announced, also be impacted by the capital loss from the divestment of SwePart Transmission in March.
Hexagon in the first quarter of 2014 will take a €17.4 million charge to reflect the lower value of overlapping business units.
Source: Hexagon