Security News > 2020 > November > OT Management and Security Firm PAS Global to be Acquired by Hexagon AB
PAS Global, a technology company with deep roots in software solutions for process safety and asset reliability for industrial firms, announced on Wednesday that it has agreed to be acquired by Hexagon AB, a provider of sensor, software, and autonomous solutions based in Sweden.
"The relationship began as part of a capital raise, with Hexagon initially being evaluated as one of several potential investors interested in helping PAS continue their massive growth," a PAS spokesperson told SecurityWeek.
"Once Hexagon expressed interest in an acquisition, PAS knew that teaming up would help them grow even faster, expand market reach and deliver greater value to customers - especially during the current pandemic."
"The strategic acquisition of PAS will expand our owner operator market presence and broaden our capabilities by extending Hexagon solutions to operational risk management and operational technology cybersecurity," said Hexagon PPM President Mattias Stenberg.
According to Hexagon, the acquisition will create a new cybersecurity-focused business segment within Hexagon's PPM division, which will also provide opportunities with other Hexagon divisions.