Story update 3/1/2022: An earlier version of this story accidentally reported ETQ's purchase price as $1.2 million. It should have been $1.2 billion.

(Hexagon AB: Stockholm) -- Hexagon AB, a global leader in digital reality solutions combining sensor, software, and autonomous technologies, has acquired ETQ, a leading provider of SaaS-based QMS (quality management system), EHS (environment, health and safety), and compliance management software.

Customers have long relied on ETQ’s future-ready, truly multi-tenant QMS solution, ETQ Reliance. It provides the data backbone for automating the collection and delivery of manufacturing quality control data, nonconformance reports, customer feedback, and more. ETQ Reliance provides an enterprise view of quality management across the entire product lifecycle. Its broad portfolio of best-in-class applications comes with out-of-the-box functionality and no-code configurability, which enables customers to tailor the solution to their unique needs and optimize critical business processes to achieve their quality, safety, and environmental goals.

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