Digital reality solutions business Hexagon AB moves to acquire Qognify

Qognify was formed in 2015 when Battery Ventures acquired the physical security division of NICE Systems, in turn creating a new brand in the market. In 2018, Qognify acquired On-Net Surveillance Systems Inc and its OnSSI and SeeTec brands, duly forming one of the leading global players in the physical security market.

Qognify’s video management and incident management solutions are used by companies and organisations around the world to mitigate risk and reduce the impact of incidents related to security, safety and operations.

Expanding the footprint

Commenting on the deal, Steve Shine (president and CEO at Qognify) has highlighted the opportunity this acquisition creates for Qognify. “Joining Hexagon affords Qognify the ability to expand its footprint in the area of true enterprise-class physical security solutions,” asserted Shine, “and notably so in key verticals such as public safety, infrastructure and transportation.”

Shine continued: “Qognify will be able to leverage Hexagon’s geographic reach to address additional markets. The acquisition creates a solid basis for continuous growth and development from which existing customers and partners will also benefit.”

Natural expansion

Ola Rollén (president and CEO at Hexagon AB) responded: “Hexagon has long been a leader in public safety solutions that deliver situational awareness and insights to the Emergency Services and others, thereby improving operations, minimising risk and saving lives.”

Further, Rollen observed: “Qognify’s solutions are a natural expansion of our public safety portfolio, adding comprehensive and tightly integrated video capabilities that can provide dispatchers, responders and investigators alike with new levels of intelligence to serve and protect their communities.”

In addition, Rollen noted: “The acquisition also opens up new opportunities for us in real-time monitoring and security, extending our reach into new markets and enabling the cross-sell of complementary Hexagon offerings to Qognify’s customers. The Leica BLK Series of reality capture sensors is an example.”

Rollen concluded: “Additionally, integrating video monitoring capabilities into our enterprise asset management solution will enable customers across diverse industries to further optimise the performance and reliability of their assets.”

Operational structure

Subsequent to the acquisition, Qognify will now operate as part of Hexagon AB’s Safety, Infrastructure and Geospatial division.

Completion of the transaction (closing) is subject to the customary regulatory approvals.