Hexagon Buys CAD Service

Hexagon's Asset Lifecycle Intelligence (ALI) division reports the acquisition of CAD Service. CAD Service is a developer of advanced visualization tools used to integrate computer-aided design (CAD) drawings, building information modeling models, and Reality Capture data into HxGN EAM, Hexagon's enterprise asset management (EAM) solution designed to extend asset lifecycles and improve productivity, Hexagon says.

CAD Service has maintained a longstanding relationship with Hexagon, having signed a partnership agreement in 2013, the companies note. The flagship solution, OpenCAD, is already a tool in use for around half of Hexagon's EAM Software-as-a-Service (SaaS) customers. The acquisition enables Hexagon to fully integrate CAD Service's visualization capabilities into the broader solution set and accelerate the development roadmap, according to Hexagon.

By leveraging CAD Service's expertise in-house, the ALI division will be able to offer  comprehensive EAM solutions, addressing the needs of complex industries, including manufacturing, energy, and transportation, according to Hexagon.

"Acquiring CAD Service marks an important stepping stone for Hexagon's Asset Lifecycle Intelligence division," says Hexagon interim President and CEO Norbert Hanke. "Its expertise and advanced visualization tools will allow us to further enhance our EAM offerings, directly providing customers with more integrated and efficient tools for managing their assets. Becoming part of Hexagon is a natural progression for CAD Service since its tools have been an integral part of Hexagon's EAM solutions for years."

CAD Service, headquartered in Parma, Italy, has a team of nine employees. It will be fully consolidated effective now and will operate within Hexagon's Asset Lifecycle Intelligence division.

Sources: Press materials received from the company and additional information gleaned from the company’s website.