Swedish technology group Hexagon AB (SWX: HEXN) has acquired Israeli
industrial device start-up CogniTens Ltd.
CogniTens was founded in 1995 and, according to IVC Online, it has
raised a total of $39 million from Pitango Venture Capital, Vertex
Venture Capital, Walden Israel, Israel Infinity Venture Capital,
Morgan Stanley, and others.
CogniTens provides manufacturers with measurement tools based on 3D
optical technology. The company's dimensional measurement solutions
are especially designed for use in demanding engineering and shop
floor environments of automotive and other manufacturing industries.
CogniTens is headquartered in Israel and employs about 50 people,
with sales in the US and Japan. The company's sales for 2007 are
likely to reach around $8 million and are expected to grow by double
digits.
Hexagon president and CEO Ola Rolen said, "The acquisition of
CogniTens gives Hexagon a new technology in the high speed, non
contact, shop floor measurement and scanning segment of the metrology
market."
Hexagon is a global technology group with around 8,200 employees in
30 countries and net sales of about $2 billion for 2006.