Hexagon Acquires LocLab ‘Digital Twins’ Company

Hexagon AB, a producer of digital reality software combining sensors, applications and autonomous technologies, has taken over LocLab – a company whose proprietary technology using, among others, artificial intelligence, allows you to create so-called “digital twins”. The German company serves some of the world’s largest companies in the transport, construction and design industries. This is Hexagon’s second major investment this month, the first being a $100 million investment in Divergent Technologies.

The developed LocLab toolkit can use several input formats to balance speed, cost and accuracy – such as terrestrial videogrammetry, survey data and point clouds based only on photos or videos. Videogrammetry is a highly scalable method used when measurement accuracy is not required and speed is preferred. Whether creating 3D models of machines, buildings, manufacturing facilities, or large-scale areas like transportation networks or entire cities, the AI software compares detected objects with LocLab’s extensive library of 3D elements (street objects, building components, railway equipment, etc.) to semi-automatic creation of a semantically enriched 3D model (adding context and descriptive elements).

The LocLab acquisition strengthens Hexagon’s ability to make Smart Digital Reality more accessible to new and existing customers, while providing LocLab customers with a proven platform to host, share and update 3D digital twins. LocLab will operate as part of Hexagon’s Geosystems division. Completion of the transaction is subject to customary regulatory approvals.

Source: www.hexagon.com