STOCKHOLM, Sweden, June 18, 2025 – Hexagon has announced that its proposed new company – formed from the Asset Lifecycle Intelligence and Safety, Infrastructure & Geospatial divisions – will operate as Octave. The name reflects a focus on delivering improvements in customer workflows and outcomes. More details on the structure and roadmap are expected as preparations continue.
In addition to Hexagon’s Asset Lifecycle Intelligence and Safety, Infrastructure and geospatial divisions, Octave will also include ETQ (operating under the Manufacturing Intelligence division) and Bricsys (operating under the Geosystems division).
The new business will operate as a software and SaaS company, focused on enabling data-informed decision-making across organizational workflows. Octave’s tools will support asset design, construction, operation, and protection, with tools that support improved visibility and incident management.
“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, 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 capitalize on software and services opportunities across the industrial and public sector spaces and deliver intelligence at scale.”
If stakeholders give their approval, the Hexagon Board expects to complete the separation and listing during the first half of 2026. Hexagon will share more details about separation costs and other main topics as they become available.
Source: Hexagon
About Hexagon
Hexagon AB, founded in 1975 and headquartered in Stockholm, Sweden, provides digital reality solutions by integrating sensors, software, and autonomous technologies. Its products and services are used across sectors such as manufacturing, construction, mining, agriculture, aerospace, automotive, and defense. Core offerings include reality capture, intelligent positioning systems, industrial design, and situational intelligence tools. Over the years, it has pursued a strategy of growth through acquisition, completing over 170 acquisitions since 2000. As of December 31, 2024, the company reported net sales of approximately €5.4 billion and employed around 24,800 people across 50 countries. The company continues to expand its global customer base, reflecting its commitment to innovation and digital transformation.
About Octave
Octave is the proposed name for Hexagon’s planned spin-off, which will consolidate several of its software-focused divisions into a standalone company. The new entity will include Asset Lifecycle Intelligence, Safety, Infrastructure & Geospatial, ETQ, and Bricsys. Together, these units provide solutions for asset management, industrial safety, geospatial analytics, quality control, and CAD-based design. The company will be headquartered in Stockholm, Sweden, and is expected to be established as an independent, publicly listed firm by mid-2026. Although Octave will be a new legal entity, the business segments it includes have operated under Hexagon for years. In 2024, the combined operations generated approximately €1.45 billion. The separation aims to sharpen focus and improve flexibility as demand for SaaS and data-driven solutions grows in industrial and public sectors.