25 Jun
New Spin-Off from Hexagon Set to Launch as Octave in 2026
New Spin-Off from Hexagon Set to Launch as Octave in 2026
in News
Hexagon has made a significant announcement regarding its strategic future: the company’s Asset Lifecycle Intelligence and Safety, Infrastructure, and Geospatial divisions, along with related businesses, are set to spin off and operate under a new name, Octave. This transformation marks a key step in Hexagon’s evolution and aims to sharpen its focus on software solutions tailored for diverse industries.
Focus on Data-Driven Decisions
Octave will be positioned as a specialized software and SaaS company dedicated to empowering organizations to make informed, data-driven decisions. The intent is to streamline operations and enhance strategic outcomes for customers, making the process of asset management more efficient and effective.
Projected Timeline for Spin-Off
Pending the approval of relevant stakeholders, Hexagon’s Board anticipates the completion of this separation and subsequent listing by the first half of 2026. This timeline underscores Hexagon’s commitment to thoughtfully executing this transition, ensuring that all necessary processes are in place.
Commitment to Customer Outcomes
In preparation for the spin-off, Hexagon has articulated its dedication to Octave’s mission: to expedite and enhance customer outcomes dramatically. The company plans to leverage its existing divisions while embracing a broader array of software solutions designed to meet market demands effectively.
Expanding Capabilities with ETQ and Bricsys
Beyond the Asset Lifecycle Intelligence and Safety and the Infrastructure and Geospatial sectors, Octave will also integrate ETQ, which is currently part of the Manufacturing Intelligence division, and Bricsys, presently under the Geosystems division. This integration signifies a substantial broadening of capabilities, positioning Octave to deliver robust software and SaaS solutions.
Enhanced Asset Management
The newly formed entity, Octave, is set to concentrate on innovative software solutions that allow customers to design, build, operate, and protect their assets more effectively. This approach will facilitate clearer insights and improve incident response, thereby elevating customer service standards.
Leadership Vision for the Future
“As we prepare for the potential separation from Hexagon AB, Octave will serve as a powerful identity that reflects significant growth opportunities,” remarked Mattias Stenberg, who is the President of Hexagon’s Asset Lifecycle Intelligence and Safety, Infrastructure, and Geospatial divisions, and will assume the role of Chief Executive Officer of Octave. He emphasized that as a distinct, standalone entity, Octave will harness the depth and expertise necessary to seize new software and service opportunities across both industrial and public sector landscapes.
