Octave® unveiled: Hexagon reveals name for potential 2026 company spin-off
Octave® unveiled: Hexagon reveals name for potential 2026 company spin-off |
| [17-June-2025] |
STOCKHOLM, June 17, 2025 /PRNewswire/ -- As Hexagon AB prepares for the potential spin-off of Hexagon's Asset Lifecycle Intelligence and Safety, Infrastructure & Geospatial divisions and related businesses, the company has announced that the new business will operate as Octave. This new name communicates the company's intent to increase, accelerate, and optimise customer outcomes. As previously announced, 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 across their organisation. 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 December 31, 2024, and revenues of approximately EUR 1,448 million with an adjusted operating margin (EBIT1) of approximately 31% for the year ended December 31, 2024, before consideration of standalone costs and using IFRS accounting standards.[1] If approved by relevant stakeholders, it is the Hexagon Board's current expectation that the separation and listing process will be completed in the first half of 2026. Hexagon will provide additional information on the cost of the separation process and other key matters in due course. 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. There can be no assurances that a separation, spin-off or listing will occur. For more information, visit octave.com. FOR MORE INFORMATION, CONTACT: Important information: This communication contains forward-looking statements. When used in this communication, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. They may involve risks and uncertainties, including technological advances in the measurement field, product demand and market acceptance, the effect of economic conditions, the impact of competitive products and pricing, foreign currency exchange rates and other risks. These forward-looking statements reflect the views of Hexagon's management as of the date made with respect to future events and are subject to risks and uncertainties. All of these forward-looking statements are based on estimates and assumptions made by Hexagon's management and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results or experience could differ materially from the forward-looking statements. Hexagon disclaims any intention or obligation to update these forward-looking statements. Forward-looking statements are not guarantees of future performance and the actual results of Hexagon's operations and the development of the markets and the industry in which Hexagon operates or other outcomes suggested by such forward-looking statements (including any outcomes of a separation, a spin-off or a listing and any related business, financial, tax, regulatory or other implications, or differences between the existing ALI division and any separated business) may differ materially from those described in, or suggested by, the forward-looking statements contained in this communication. [1] As all details about Octave are subject to change as preparation for the potential spin-off progresses, the actual results of Octave, and Hexagon excluding Octave, may vary from the figures reflected herein, for reasons including but not limited to potential changes in accounting standards and the inclusion of stand-alone costs. This information was brought to you by Cision http://news.cision.com The following files are available for download:
SOURCE Hexagon | ||||
Company Codes: Stockholm:HEXAB, ISIN:SE0015961909, RICS:HEXAB.ST, Bloomberg:HEXAB@SS |
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