NORTH KINGSTOWN, R.I.--(BUSINESS WIRE)-- Hexagon AB has signed an agreement with California based Wilcox and Associates, Inc. (WAI) to acquire the remaining 70 percent of WAI's outstanding shares. Hexagon already owns 30 percent of WAI's shares through its subsidiary, Brown & Sharpe, Inc.
WAI is the world's leading supplier of metrology software. WAI's PC-DMIS(TM) software is used as the standard software on the majority of Brown & Sharpe's new coordinate measuring machines (CMMs). It is also distributed for use as an upgrade for Brown & Sharpe and competitors' CMMs via Brown & Sharpe's global aftermarket services organization. PC-DMIS will be complemented by the CHORUS(TM)/CHORUS CAD(TM), as well as the QUINDOS(R)/QUINDOS(R) NT metrology software programs.
Bill Wilcox, WAI's present chief executive officer, will head WAI. The strong financial results of WAI will be consolidated with Brown & Sharpe's profitable aftermarket services organization, where software and other service-related activities have a combined turnover of more than $70 million. The acquisition, which is scheduled to be concluded on October 1, 2001, will contribute to Hexagon's earnings from the date of possession.
"We regard this acquisition as strategic for our continued expansion in the metrology business," said Jack Beagley, Brown & Sharpe, Inc. CEO. "PC-DMIS will constitute the platform for Brown & Sharpe's present and future software systems. PC-DMIS has a very exciting future where the demand for the product will not only come from traditional CMMs, but also from other metrology systems, such as vision and laser based machines, along with NC machine tools."
"By formalizing the relationship with Hexagon, we'll be able to take advantage of the worldwide marketing strength of the Brown & Sharpe brand name and provide a new level of software capability and functionality to our customers," said Bill Wilcox.