MALMÖ, Sweden, Sep 25, 2014 – The board of BIMobject AB has proposed a directed share issue to the global technology company Hexagon AB, listed on NASDAQ OMX Stockholm. At the board meeting on September 23, 2014, the board decided to convene an extraordinary shareholders’ meeting and propose on a directed share issue of 2,242,900 new shares to Hexagon at a value of 31.4 million SEK with the purpose of adding a strategic and strong new shareholder for the company. The directed share issue will give Hexagon a 13.3% shareholding in BIMobject.
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 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 11 September 2014. Based on the closing share price on 23 September 2014 this implies a discount / premium of 21 %. The private placement will lead to a dilution of 13 % for the current shareholders in BIMobject. The benefits for BIMobject and its shareholders in getting Hexagon as a strong shareholder is the multiple synergies that will take place with innovation, enlarged global user community, digital 3D content and large scalability.
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 a directed 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 shareholder 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.
About Hexagon
Hexagon (NASDAQ OMX Stockholm: HEXA B) is a leading global provider of design, measurement and visualization technologies. Their 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. Their products are used in a broad range of industries including surveying, power and energy, aerospace and defense, construction, safety and security, automotive and manufacturing. Learn more at www.hexagon.com.
About BIMobject
BIMobject is a game changer for the construction industry worldwide with its cloud based portal offering development, maintenance and syndication of digital replicas – BIM objects – of manufactured building and interior products.
The marketing and pre-sales services associated with the portal are channeled and integrated, through specialized software, into CAD/BIM applications to create a business-to-business communication across the globe.
Manufacturers use BIMobject to promote and deliver their products directly into BIM processes enabling their products to be selected and generate a real improvement in sales.
BIMobject – Winner of the Red Herring Europe Top 100 Award 2013, Winner of the 2013 Red Herring 100 Global Award and Winner of the IAIR EUROPEAN AWARDS 2013!