The board of BIMobject AB has proposed a direct share issue to industry giant Hexagon AB, listed on the Nasdaq OMX large cap. At the board meeting yesterday the 23th of September 2014, the board proposed an extraordinary share holders meeting to decide on a direct share issue of 31,4 Million SEK – without preferential rights of shareholders – with the purpose of adding a strategic and strong new shareholder.
Hexagon – with its smart technology and geosystems – is a perfect strategic and long term industry partner for the IT startup BIMobject. For BIMobject this means not only a “proof of concept” but also a substantial capitalization that enables the software company to even further strengthen its technology portfolio with intelligent cloud solutions and internet based infrastructure for building products and components. In the last two years BIMobject has managed to get more than 54 000 registered professional users from all over the world and the central cloud solution for managing the BIM objects, digital replicas of manufacturer specific components, have seen a dramatic growth now passing 1 million downloads.
The goal for BIMobject is to quickly become the market leader and dominant force in Europe for developing, hosting, publishing and maintaining digital products in the Architecture, Engineering and Construction field. The new private placement from Hexagon will also allow BIMobject to broaden the BIMobject cloud technology to industries like process, power and marine sectors, a segment of the market where Hexagon already have a dominant global corporation with Intergraph and Leica solutions.
The new private placement includes 2 242 900 new shares and can increase the company´s share capital by 98 687,60 SEK. The share price of 14,00 SEK has been set based on a volume-weighted average share price of 10 trading days with an expiry date of September 11th, 2014. Based on the closing share price on September 23rd, 2014 this implies a premium of app. 21%. The private placement will dilute around 13 % of existing shareholders.
Notice of Extraordinary General Meeting will be published shortly.
”Exciting times are await us due to the private placement, this really proves that we are on the right way to become the standard for the BIM industry. We can now increase our efforts to become the natural choice for all relevant customers by continuing to develop our already industry leading product portfolio. We are proud that Hexagon –a truly innovative and respected party –chose BIMobject as a partner.”says Sven Holmgren, Chairman of the Board at BIMobject AB
”Completing the direct share issue with a global technology leader as Hexagon, is clear evidence and proof that our explosive growth and development of world class cloud solutions for the Architecture, Engineering and Construction market is well in time. We couldn’t get a better long term and strategic owner from our industry. We will now be able to increase the development of new technologies that will change our industry as we know it and in combination with Hexagons industrial technology and geospatial solutions it will be something to watch out for.” says Stefan Larsson, CEO and founder of BIMobject AB
Hexagon (NASDAQ OMX Stockholm: HEXA B) is a leading global provider of design, measurement and visualisation technologies. Our customers can design, measure and position objects, and process and present data, to stay one step ahead of a changing world.
Hexagon’s solutions increase productivity, enhance quality and allow for faster, better operational decisions, saving time, money and resources. Hexagon has more than14,000employees in over 40 countries and net sales of about2,400MEUR. Our products are used in a broad range of industries including surveying, power and energy, aerospace and defence, construction, safety and security, automotive and manufacturing. Learn more at www.hexagon.com.