Swedish technology group Hexagon has signed an agreement to acquire AutonomouStuff, a US-based supplier of integrated autonomous vehicle (AV) solutions.

Financial terms of the acquisition were not disclosed.

Established in 2010, AutonomouStuff focuses on developing turnkey platforms for AV development, robotics and data intelligence innovation.

Currently, its platforms are being used in various pilot programmes by nearly 2,500 clients across automotive and technology sectors in the US, Europe, and Asia.

Hexagon president and CEO Ola Rollén said: “The acquisition of AutonomouStuff accelerates Hexagon’s ability to move our customers beyond the data impasse of IoT.

“Combined with our positioning intelligence, mapping and sensing technology leadership, this acquisition creates a nexus of domain expertise that will lead the autonomous mobility industry.”

“We’re particularly interested in technologies that are the most disruptive, those capable of leveraging the vast potential of data being generated by connected things, integrating AI, Edge-Cloud orchestration, mobility, and data visualisation into autonomous connected ecosystems.

“When combined with our positioning intelligence, mapping and sensing technology leadership, this acquisition creates a nexus of domain expertise that will lead the autonomous mobility industry for years to come.”

The acquisition is expected to be completed within 90 days subject to customary closing conditions, including regulatory approvals and a voluntary filing to the Committee on Foreign Investment in the US (CFIUS).

By utilising sensor technologies, software, and data orchestration, Hexagon specialises in delivering industry-specific solutions. It aims to create Smart Digital Realities to enhance various manufacturing, infrastructure and mobility applications.

With a team of nearly 18,000 employees across 50 countries, the company reported net sales of €3.5bn.