HMS Networks AB (publ) ("HMS"), a global provider of industrial information and communication technology, today announces a re-organization into a structure with three divisions to gear up for continued growth.
Rationale for the organization change
Since 2017, HMS has been operating with a matrix organization with business units responsible for product development and market units responsible for sales and marketing of all products. Following the organic growth over the last years and the recent acquisitions of Red Lion Controls and PEAK-System, HMS re-structures to better serve the different customer groups and group the product offerings to leverage technology synergies.
The three divisions
The result is three divisions, all with clear target customer groups where each division has full Profit & Loss responsibility and a homogeneous offer.
Industrial Data Solutions (IDS): Solutions to connect, secure, diagnose and visualize data in industrial applications. The main brands will include Red Lion®, Ewon® and N-tron® focusing on machine builders, system integrators and end-users within Industrial Automation. The division will be led by Alexander Hess, who currently holds the position as SVP Information Centric at HMS.
Industrial Network Technologies (INT): Technology for communication, control and security in industrial devices. The main brand will be Anybus® focusing on device makers within Industrial Automation. The division will be led by Bartek S. Candell, who currently holds the position as SVP Control Centric at HMS.
New Industries (NI): Industrial communication for niche applications in growing industries outside the Industrial Automation markets. Building Automation and Vehicle Communication will be under New Industries. Main brands will be Intesis®, Ixxat®, PEAK-System® and Owasys®. The managers in New Industries will report to CEO Staffan Dahlström.
The new organization will be in place from January 1st, 2025. This also means that HMS will start with segment reporting as of the first quarter 2025.
"Our matrix organization has served us well the last seven years and has been a key driver for our growth. With the recent acquisitions of Red Lion Controls and PEAK-System we have become a larger organization with a much broader product offering within Industrial ICT. We are making this organization change to create an even better customer focus and utilize cross-selling possibilities where our customers' demand is similar. With this structure, we are also creating full accountability for the business with our division managers" says Staffan Dahlström, CEO of HMS Networks.
Financial implications from the organization change
As a result of the new organization there will be about 40 positions, primarily within management and the sales and marketing organization, that will be impacted. Including the acquisition of PEAK-System and the divestment of MB Connect Line, HMS will have just over 1100 employees from January 1st, 2025.
The restructuring following the organizational change is expected to result in full year savings of 40 MSEK, with full impact from January 1st, 2025, and will come with restructuring costs of 25 MSEK that will impact the fourth quarter of 2024.
For more information, please contact:
Staffan Dahlström, CEO HMS, +46 (0)35 17 29 01
Joakim Nideborn, CFO HMS, +46 (0)35 710 69 83
This information is such that HMS Networks AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 07:30 CEST on October 15, 2024.
HMS Networks AB (publ) is a market-leading provider of solutions in Industrial Information and Communication Technology (Industrial ICT) and employs over 1 200 people. Local sales and support are handled through over 20 sales offices all over the world, as well as through a wide network of distributors and partners. HMS reported sales of SEK 3,025 million in 2023 and is listed on the NASDAQ OMX in Stockholm in the Large Cap segment and Telecommunications sector.
Attachment
- PR - HMS Networks changes organization to strengthen customer focus and cross-selling (https://ml-eu.globenewswire.com/Resource/Download/5da902c7-307a-4f7d-8f6c-17338e7b055d)
