DP Technology Announces Strategic Acquisition by Hexagon AB
DP Technology, parent company of the ESPRIT CAM system, has signed a definitive agreement to be acquired by Hexagon AB in a move poised to significantly strengthen ESPRIT’s presence on the global CAM marketplace.
Camarillo, California (November 4, 2020) – DP Technology Corp. has signed an agreement to join Hexagon AB’s smart manufacturing portfolio in a strategic acquisition that will bring the best of smart manufacturing to a wider customer base.
Headquartered in Stockholm, Hexagon serves a multitude of ecosystems with its sensor, software, and autonomous solutions—from manufacturing and industrial facilities to mining, agriculture, autonomous mobility, public safety, construction, and more. The ESPRIT CAM system will be included in Hexagon’s Manufacturing Intelligence division. “This is a natural fit, because manufacturing intelligence is exactly what ESPRIT is all about,” says Paul Ricard, Co-Founder and President of DP Technology “Ultimately, their acquisition of ESPRIT allows us to better serve our customers.”
“The global reach of Hexagon will allow us to expand our brand and to accelerate the evolution of our products based on the needs of manufacturers around the world,” says Dan Frayssinet, Co-Founder and CEO of DP Technology.
The ESPRIT mission—to deliver powerful solutions to the world to drive automation in manufacturing—is synchronous with Hexagon’s mission of putting data to work to enable autonomous, connected ecosystems that boost efficiency, productivity, and quality for their customers. “As we are integrated into Hexagon, we will see a magnification of the qualities that make ESPRIT an industry leader, especially those most valued by our customers. Leveraging the strengths of a multinational company, we will achieve greater velocity in the expansion of our products and services on the global CAM marketplace.” says Chuck Mathews, Executive Vice President of DP Technology.
“ESPRIT partners, resellers, and end users can expect a smooth transition and significant synergies that will produce faster growth and greater opportunities,” says Philippe Albert, Vice President of International Sales and Director of European Operations for DP Technology.
“We recognize that our industry relationships, as well as the quality of our products and services, have been foundational to our success,” says Don Davies, Vice President of the Americas for DP Technology. “ESPRIT will continue to offer the best product, the best post processors, and the best support and service in CAM. ESPRIT has always had a strong future, and the acquisition by Hexagon will only strengthen our offerings for our resellers, partners, and customers.”