Hexagon AB, a global leader in sensor, software and autonomous solutions, recently announced the signing of an agreement to acquire Romax Technology Limited, a leading provider of Computer Aided Engineering (CAE) software for electromechanical drivetrain design and simulation, from Eight Roads. 

Romax Technology brings more than 30 years of experience in electromechanical simulation and multi-physics design optimisation.

"One of the greatest challenges of our time is the battle against climate change and the need to reduce GHG emissions. The acquisition of Romax Technology enables us to meet the growing need for electrification, providing our customers with integrated tools that empower engineering teams to develop the next generation of energy-efficient electric vehicles," said Hexagon President and CEO Ola Rollén. "Electrification is a growing trend in automotive and aerospace but also presents new opportunities for Hexagon in the development of renewable energy systems."

Headquartered in Nottingham, UK, Romax Technology has approximately 240 employees globally serving more than 250 customers in the automotive, aerospace, wind power, marine, bearing and rail industries. Completion of the transaction (closing) is subject to standard regulatory approvals.