The international metrology group Hexagon has acquired all outstanding shares of the Spanish company Santiago & Cintra Ibérica S.A. Santiago & Cintra is a leading distributor and service provider for positioning solutions in applications such as geomatics, GIS and mapping, and machine control for the agriculture and construction industries.
“The acquisition of Santiago & Cintra is yet a further step in Hexagon’s global growth strategy,” says Ola Rollén, CEO and president of Hexagon. “The company will solidify Hexagon’s strong position in the surveying and civil engineering market segments, as well as set a solid foundation for Hexagon’s market leadership and further expansion in the rapidly growing market for machine control in Spain.”
Santiago & Cintra currently has 48 employees operating out of the headquarters in Madrid and sales offices in Valencia, Barcelona, and Seville. The company had a turnover amounting to approximately 140 million Swedish kronor (about €15 million) in 2007 and has shown double-digit sales growth over the past several years.
Fully consolidated into the Hexagon group since the beginning of March, Santiago & Cintra is already contributing to Hexagon’s earnings.