Sweden’s Hexagon has announced a deal to buy Canadian geotechnical and engineering software firm Rocscience from US investor TA Associates and company founders for circa-US$535 million.
Rocscience claims to have more than 10,000 mining, civil and structural engineering users of its software in over 120 countries. The company is expected to generate about $50 million of 2026 revenue, with more than 80% of that said to be annual recurring revenue.
Hexagon said Rocscience would become part of its radar and monitoring division in its infrastructure and geospatial business area.
“Rocscience has an exceptionally strong team that has built a proven business with outstanding customer satisfaction,” Hexagon infrastructure and geospatial president Henning Sandfort said.
“Its software is complementary to our sensor and monitoring businesses in mining and increasingly in civil and infrastructure applications.
“By connecting what our sensors measure with how Rocscience’s models predict we can help customers move from data capture to informed action with far greater confidence.”
Toronto-based Rocscience helped mining and civil engineers model how rock, soil and structures behaved under different conditions, analyse slope stability and ground movement, and assess how tunnels, dams and other critical infrastructure assets were likely to perform over time.
Hexagon’s sensors, such as its radar monitoring solutions, captured and measured conditions in the physical world continuously. Rocscience’s models helped customers understand and predict how the ground and structures would behave.
“Together they break down the traditional barrier between observation-based actions and model-based decisions, creating a continuous feedback loop in which live sensor data automatically informs, updates and calibrates engineering models from design through construction and operations,” Hexagon said.
“For customers, this means earlier detection of emerging risks, faster intervention, reduced analysis time and improved safety and productivity.”
Hexagon is looking to close the acquisition in the current quarter.
It said Rocscience’s EBITA margins above 40% would make it net income accretive from closing.
Rocscience, founded back in 1987 at the University of Toronto, made four acquisitions after Massachusetts-based TA Associates bought into the company in 2024. It bought high-end niche software developers in the Netherlands (DIANA), Austria (3GSM), Wales (Rockfield) and Canada (Aquanty).
More to follow.
