Hexagon plans spin-off
Hexagon plans to spin off its Asset Lifecycle Intelligence and Safety, Infrastructure & Geospatial divisions into a new company called Octave.
Image: Wiley
This will also include ETQ and Bricsys and will focus on data-driven decisions as a software and SaaS company. The goal is to help customers design, build, operate, and protect their assets more effectively. Octave will have a strong identity with growth opportunities, said Mattias Stenberg, Octave's CEO-designate.
At the end of 2024, the affected businesses employed around 7,200 people and generated revenue of €1.448 billion. The separation and IPO are planned for the first half of 2026, subject to approval by relevant stakeholders. The process is subject to further approvals and there is no guarantee that it will take place.
