The announcement came at the company’s Hexagon Live Global 2025 event
Hexagon AB’s potential spin-off of its Asset Lifecycle Intelligence and Safety, Infrastructure & Geospatial divisions, the company has announced the new business will operate with the business name “Octave.” The company says the new name communicates its intent to increase, accelerate, and optimise customer outcomes.
In addition to Hexagon’s existing Asset Lifecycle Intelligence and Safety, Infrastructure and Geospatial divisions, Octave will also include ETQ (currently operating under the Manufacturing Intelligence division) and Bricsys (currently operating under the Geosystems division).
This new business will be a pureplay software and SaaS company focused on helping customers make smarter, more data-driven decisions. Octave’s portfolio will help customers design, build, operate and protect assets more effectively, enabling clearer insights and better incident response.
“As we prepare for the potential separation from Hexagon AB, Octave will be a powerful identity to reflect the significant growth opportunity,” said Mattias Stenberg, current President of Hexagon’s Asset Lifecycle Intelligence and Safety, Infrastructure & Geospatial divisions and incoming Octave Chief Executive Officer. “As a separate, stand-alone company Octave will have the depth, scale, and expertise necessary to capitalise on software and services opportunities across the industrial and public sector spaces and deliver intelligence at scale.”
Collectively, Octave had approximately 7,200 employees as of the end of 2024, and revenues of approximately $1.654 billion (EUR 1,448 million).
If approved by stakeholders, it is the Hexagon Board’s current expectation that the separation and listing process will be completed in the first half of 2026.
“The good thing about Octave is that it’s fully integrated. It’s one company with one go-to-market strategy, one sales force. It’s not just a collection of companies. That’s the 1+1=5 effect,” said Stenberg at the press conference. “We’re already bringing together ALI and ETQ. We’re well on our way there. That will take maybe six months to a year. Bricsys is more of a standalone unit for now. It’s very much an online-sold product and operates a little differently, so that will take more time. It’s a bigger business.”
The separation, spin-off and listing remain subject to this ongoing process and final approval of the Hexagon Board and shareholders, as well as being subject to other conditions, consents and regulatory approvals.
Hexagon leadership cautioned that there can be no assurances that a separation, spin-off or listing will occur.
— With files from Ian Wright
