More AECish news, this time AVEVA and Hexagon
Goodness, but the AEC world is just crazy newsy right now. Two quick things:
AVEVA announced yesterday that the first 9 months of its 2018 fiscal year were better than forecast due to improved execution, stabilizing end-markets and the signing of a “significant” and :substantial” three-year contract renewal with a key global engineering, procurement and construction (EPC) customer. This, according to the press release, led AVEVA to deliver “constant currency revenue growth in the first nine months across all reporting regions with a particularly good performance in Asia Pacific”. No more details, but it looks like strong sailing into the all-important fourth quarter. Oh, and this: the AVEVA / Schneider Electric Software business combination is expected to clear the Committee on Foreign Investments in the United States (CFIUS) sometime around 9 February 2018. It looks we’re still on track for a closing in February.
And Hexagon CEO Ola Rollén’s legal troubles don’t seem to be over, despite his recent acquittal on charges of insider trading. It was announced today that the Norwegian economic crime authority (Økokrim) is going to appeal that verdict, and Mr. Rollén’s lawyers have said they’ll file a motion to dismiss the charges. Hexagon’s board reaffirmed its belief in Mr. Rollén and he remains President and CEO. So, not done, as I had written just a few weeks ago.