Hexagon reports Intergraph deal on track

Hexagon announced earnings results today that show it is progressing nicely in its present business: Q2 revenue was up 16% due to a pick up in the pace of recovery in its NAFTA and EU regions. (An aside: it’s nice to see recognition that the US is not the only market in North America!) The company also provided an update on its acquisition of Intergraph: papers have been filed with all relevant antitrust authorities and, assuming they approve, the deal is expected to close in Q4. Hexagon CEO Ola Rollen said that he expects to hear within the next month or so if there are any issues that could delay the closing. As far as I could tell, there were only Scandinavian analysts on the earnings call — a new crowd for me. They tended to ask questions that focused on how a company from a non-dominant country can capture market share in the US and emerging markets. It was quite interesting and I’m looking forward to learning more about Hexagon and its approach to its target markets. I was a bit surprised that there was only one question on Intergraph (in a ~15 minute Q&A session) — and this focused on the timing of the share offer that comes after the closing, not on the underlying strategy for the deal or for the business after closing.