Hexagon acquires PAS Global for its OT, cybersecurity expertise
Hexagon just announced that it will acquire PAS Global, a maker of operations technology (OT) and cybersecurity solutions that are used across industries to prevent, detect, and remediate cyber threats, reduce process safety risks and make plant operations more profitable. PAS says it currently serves 13 of the top 15 refining, 13 of the top 15 chemical, 4 of the top 5 pulp and paper, 3 of the top 5 mining, and 7 of the top 20 power generation companies. Impressive.
Hexagon CEO Ola Rollén said that “combining PAS’ OT expertise with our PPM division’s digital twin and data integrity capabilities creates a powerful combination for industrial lifecycle management. Our customers can now manage the lifecycle from plant design and maintenance, to real-time situation awareness in the control room, cybersecurity risk management, and industrial digital transformation. PAS’ highly skilled and experienced staff serve more than 500 customers across more than 1,450 sites and 70 countries, significantly expanding our owner operator footprint across the oil & gas, chemicals, power generation, mining and metals, and pulp and paper industries. Their highly complementary solutions provide expansion opportunities into verticals such as agricultural processing, water treatment, and renewables, as well as synergies with our Manufacturing Intelligence and Mining divisions.”
PAS will become part of Hexagon’s PPM division. The acquisition is still awaiting regulatory approvals but otherwise sounds like a done deal. Hexagon didn’t announce a purchase price but did say that PAS’ 2020 revenues are forecast to be around €34 million.