Manufacturing software, measuring systems and sensors specialist Hexagon has confirmed details for a new SaaS spin-off firm for its ecosystem of partners, and given it an official name.
At the Hexagon LIVE Global conference for customers and partners in Las Vegas today, Sweden-headquartered Hexagon AB said the new ‘Octave’ company would bring together its ALI (Asset Lifecycle Intelligence), SIG (Safety, Infrastructure & Geospatial), ETQ (currently operating under the manufacturing intelligence division) and Bricsys businesses (currently operating under the geosystems division).
Octave will be a pure play software and SaaS company focused on helping customers make “smarter, more data-driven decisions across their organisations”, said Hexagon. The plan to spin off the businesses forming Octave was originally announced this March.
"Octave will be a powerful identity to reflect the significant growth opportunity," said Mattias Stenberg (pictured), current president of Hexagon's ALI and SIG 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 around 7,200 employees as of 31 December, 2024, and revenues of approximately €1.45 billion, with an adjusted operating margin of about 31% at year end 31 December, 2024.
If approved by relevant stakeholders, it is the Hexagon board's current expectation that the separation and new public listing process will be completed in the “first half of 2026”.
Hexagon is currently listed on the Stockholm Nasdaq, and generates total group sales of almost €5.5 billion. At Hexagon LIVE Global, Stenberg told us: “Octave’s total current sales are the smallest they will ever be, as we will continue to grow as a startup in a sense, as we design, build, operate and protect on behalf of our customers and partners.”
During the show, which has attracted around 3,000 delegates, Hexagon unveiled a new system in the manufacturing software space. Its Manufacturing Intelligence division launched the Autonomous Metrology Suite, software developed on its cloud-based Nexus platform that is designed to “transform” quality control across manufacturing industries worldwide.
By removing all coding from coordinate measuring machine (CMM) workflows, it helps manufacturers speed up critical R&D and manufacturing processes as experienced metrologists - professionals specialising in the science of measurement - become harder to find.
A digital twin of every connected CMM synchronises “seamlessly” with its physical counterpart, so the correct inspection programme always reaches the right machine, helping to eliminate possible human error, we are told. All quality, utilisation and environmental information flows straight to a cloud dashboard, creating a continuous digital thread supporting data-driven decisions on the shop floor.
All applications in the suite also share a consistent modern and intuitive web interface that guides both new and expert users through the process, helping to “democratise” the creation of CMM programmes and reduce the level of skills required to interact with the solution.
More from Hexagon LIVE Global to follow...
