Gimv sells Luciad to Hexagon

The sale ends a four-year holding period for Gimv, which acquired the company in an all-equity transaction in June 2013.

Under Gimv's stewardship, the company has increased its turnover from €11.3m in 2012 to €16m in 2016.

Luciad will be fully consolidated immediately and operate within Hexagon's geospatial division. Hexagon said the acquisition will strengthen the company's 3D, 4D and 5D technologies.

Gimv said the exit generated a return well above its long-term average.

Company
Luciad was founded in 1999 as a spinout from University KU Leuven. The company is based in Leuven with additional offices in Paris, Ankara in Turkey and Reston in the US. It develops software designed to aid in the development of situational awareness systems for system integrators. Situational awareness is used by air traffic control, military command and emergency services to hold a detailed and up-to-date knowledge of an environment. Luciad employs 100 people and generated turnover of €16m in 2016.

People
Gimv – Tom Van de Voorde (head of smart industries).
Luciad – Marc Melviez (CEO).

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