Alongside the Koch ownership, Hexagon's main shareholder, MSAB, also intends to nominate Brett Watson (President of Koch Equity Development) to the Hexagon Board of Directors post-closing. 133 million new series B shares to Koch, and the final consideration will ultimately be dependent on Hexagon's share price at the closing of the transaction. 37x operating profits on a cash and debt-free basis. $2.75 billion (based on the pre-announcement share price of SKr125.73), which equates to c. The total purchase consideration for Infor EAM stands at c. With shares also pricing in much of the positives having re-rated higher YTD to the current c. Post-transaction, the future scope for further M&A is also a concern – if the multiples paid for the Infor deal are anything to go by, valuation levels for selling companies are likely elevated at present, limiting the scope for future deals.
While the strategic rationale makes sense, the price paid seems demanding as the consideration implies a fairly lofty c. 500 employees and c.3.5k customers globally, for c. Hexagon AB ( OTCPK:HXGBF) recently announced the acquisition of Infor's global EAM ("enterprise asset management") business, a SaaS-based solution with c.
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