Hexagon Reveals Octave: New Name for Potential Software and SaaS Spin-Off

Jordanne Waldschmidt Headshot
Updated Jul 15, 2025
Leica Geosystems is part of Hexagon's Safety, Infrastructure & Geospatial division. Leica provides surveying, site layout, machine control and progress monitoring solutions for the construction industry.
Leica Geosystems is part of Hexagon's Safety, Infrastructure & Geospatial division. Leica provides surveying, site layout, machine control and progress monitoring solutions for the construction industry.
Leica Geosystems

Hexagon has revealed that it intends to spin-off its Asset Lifecycle Intelligence and Safety, Infrastructure and Geospatial divisions, as well as related businesses ETQ and Bricsys, into a pureplay software and SaaS company operating under the name Octave.

The new company will be dedicated to “helping customers make smarter, more data-driven decisions across their organizations.”

Key services by business include:

  • Asset Lifecycle Intelligence division: Helps clients design, construct and operate more profitable, safe and sustainable industrial facilities.
  • Safety, Infrastructure & Geospatial division: Focused on enhancing the resilience and sustainability for critical services and infrastructure, including public safety, defense, transportation, government and physical security. Agtek and Leica Geosystems are included in this portfolio.
  • ETQ: Quality, EHS (environment, health, and safety), and compliance management software.
  • Bricsys: Professional CAD software focused on performance, cost, licensing flexibility, and data security.

If approved by stakeholders, Hexagon expects to complete the separation and listing process in the first half of 2026.

“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.”

As of the year-end 2024, Octave had approximately 7,200 employees and $1.6 billion in annual revenue, with an adjusted operating margin of approximately 31%.

Hexagon says it will provide additional information on the cost of the separation process and other key developments as the project progresses.

The separation, spin-off and listing still require final approval from Hexagon Board and shareholders, as well as other standard regulatory approvals. The company acknowledged that it cannot guarantee a separation, spin-off or listing will occur.