Collision avoidance Systems company SAFEMine has been acquired by technology company Hexagon AB.
Following the acquisition SAFEmine stated that “this is the next logical step in the development of SAFEmine, giving us the flexibility to grow, expand, and to intensify customer contacts”.
It went on say that SAFEmine will continue to operate as its own organisation, but will now be within Hexagon’s mining division, alongside Devex and Leica Geosystems Mining.
“This acquisition is significant for our customers in mining and other sectors that are increasing the use of technologies in order to operate with the highest amount of efficiency while also improving safety conditions,” Hexagon’s president Ola Rollén said in a company statement.
“SAFEmine’s strong presence and technology leadership not only open doors to cross-sell complementary Hexagon offerings to the same market, but create integration opportunities across multiple businesses within Hexagon.”
While Hexagon did not state the value of the acquisition, it did note that SAFEmine’s turnover for 2013 was around 13 million Euro.
SAFEmine’s technology is focused on traffic safety solutions in open cut mines.