Hexagon Announces Effects of Veripos Acquisition
CHICAGO—Hexagon has in the purchase price allocation analysis performed following the acquisition of Veripos identified overlapping technologies and assets between Hexagon and Veripos. This will lead to a write-down which in combination with transaction costs (financial and legal advice) will impact Hexagon's earnings for the first quarter 2014.
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 will therefore in the first quarter 2014 record non-recurring items of in total -17.4 MEUR.
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