Hexagon spinoff Octave opens trading on Nasdaq
One of the newest companies in the area with roots to a local legacy software company is making its debut on Wall Street.
Madison-based Octave Intelligence, a spinoff from parent-company Hexagon, has begun trading today on the Nasdaq Global Select Market.
“Today marks a new day for our customers, employees and partners,” said CEO Mattias Stenberg.
Building on 30 years of expertise and partnership with more than 60% of the Global Fortune 500, Octave delivers connected, contextual intelligence solutions for the organizations who can’t afford to fail.
“Organizations responsible for the world’s most critical assets are generating data that creates intelligence everywhere but is connected nowhere,” Stenberg said. “Octave unlocks results by connecting that data and intelligence with context and AI-driven insight across every asset, facility and organization.“
The company is comprised of Hexagon’s Asset Lifecycle Intelligence and Safety, infrastructure & Geospatial divisions.
Sweden-based Hexagon has had a presence locally since it purchased Intergraph in 2010.
Founded in 1969 in Madison, Intergraph was one of the area’s first locally founded tech companies. It provided enterprise engineering and geospatial intelligence software that enabled customers to visualize and manage complex data.
“Every day, the world’s most complex organizations – power grids, rail networks, manufacturing plants, public safety systems, entire cities – keep critical infrastructure running through Octave’s solutions by connecting expertise, real-world conditions, and enterprise-scale insight to improve performance, resilience, and incident response where it matters most,” the company said in a news release.
“This new chapter marks a new focus – as an organization deeply committed to solving our customers’ toughest challenges in a rapidly changing world,” Stenberg said. “The future of technology is won by the companies who can deliver meaningful outcomes at scale.
“Octave is positioned to meet this through our unmatched depth of connected, contextual intelligence.”
Octave was spun off from Hexagon last week. The new brand unifies a portfolio that solves and simplifies complexity across the entire lifecycle from design and build to the operation and protection of people, property and assets, the company said.
“Octave exists to help customers make better decisions when complexity is high and the stakes matter,” Stenberg said. “We aren’t just launching a logo, this is a commitment to help organizations achieve the outcomes that matter most.
“When failure isn’t an option and success is essential, Octave provides the charity and accountability leaders need to realize their most critical outcomes.”
