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Hexagon Announces Deal to Acquire PAS Global
The Houston-based PAS Global will operate as part of Hexagon's PPM (formerly Intergraph Process, Power & Marine) division.
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Hexagon AB has reached an agreement to purchase PAS Global. PAS Global — an operational technology (OT) sensor, data, and analytics company with more than 500 customers across more than 1,450 sites and 70 countries — is intended to add capabilities to Hexagon's industrial life-cycle management capabilities.
PAS Global has product offerings that assist companies to identify and reduce OT cybersecurity risks and ensure OT integrity. According to a statement announcing the agreement, Hexagon sees PAS Global improving its reach into the oil and gas, chemicals, power generation, mining and metals, and pulp and paper industries.
A closing date for the acquisition, which is subject to standard regulatory approval, was not given. Financial details of the deal were not disclosed.
For more, read here.
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