That’s a modest price to pay for prudence. In exchange, the Koch family-owned company will get a 4.9% stake in Hexagon. Paying the rest in Rollen’s richly valued stock makes sense: including debt Hexagon is valued at 22 times estimated 2021 EBITDA, according to Refinitiv data, a premium to German rival SAP (SAPG.DE). Only $800 million will be in cash – raising Hexagon’s net debt to a still modest 1.75 times EBITDA. Still, Rollen has limited any financial downside and kept the door open to more M&A.
Chief Executive Ola Rollen’s fine words about enabling “autonomous, connected ecosystems” includes the potential for cross-selling to raise $100 million in revenue, just over half the unit’s estimated 2021 top line, but not until 2026. The FR4 substrate with of 4.3 and the 1.6-mm-thick lossy substrate, with 0.035-mm-thick copper layer with a conductivity of S/m, had been used as the dielectric substrate. That will bulk out Hexagon’s capacity to monitor infrastructure projects like roads and electricity grids, but at a cost: the purchase comes in at 37 times estimated 2021 operating profit. All the hexagonal loop and the proposed Koch fractal hexagonal loop FSS structures had been simulated by using the CST software. On Tuesday the $37 billion Swedish manufacturing software company announced it would purchase a subsidiary of U.S.-based Koch Industries for $2.75 billion. LONDON, July 6 (Reuters Breakingviews) - Hexagon (HEXAb.ST) is wisely hedging its bets.
0 kommentar(er)
