Hangzhou Greatstar Industrial Co., Ltd agreed to acquire Tesa PMI (Precision Measurement Instruments) Business of Hexagon AB (publ) on December 19, 2023. For the period ended 2022, Tesa PMI reported ?50.9 million in revenues. The sale is subject to customary, limited closing conditions and expected to close in first quarter of 2024.

This transaction will use the proceeds raised by the company from issuance of GDR. IMAP, Inc. acted as financial advisor to Hexagon in the transaction. Jochen Reis, Simon Niedermann, Florian Kaiser and Melanie Köstler of Rödl & Partner GmbH, Legal Arm acted as legal advisro to Hexagon AB.