Octave completes spinoff from Hexagon AB

HUNTSVILLE, Ala.—Octave Intelligence plc completed its spinoff from Hexagon AB and began trading May 28 on the Nasdaq Global Select Market under the ticker OCTV, establishing the company as an independent provider of data-driven intelligence solutions.

The separation was finalized May 22, when Hexagon distributed all shares of its wholly owned subsidiary Octave to Hexagon shareholders. Trading of Octave’s Swedish depository receipts (SDRs) followed on May 25 on Nasdaq Stockholm.

Octave delivers connected, context-driven intelligence for complex environments such as power grids, rail networks, manufacturing plants and public safety systems. The company integrates data, operational insight and artificial intelligence (AI) to improve performance, resilience and incident response across the lifecycle of critical assets.

“Today marks a new day for our customers, employees and partners,” said CEO Mattias Stenberg, who said the company is focused on addressing fragmented data environments by connecting intelligence across organizations and infrastructure.

Under the distribution terms approved April 24, Hexagon shareholders received one Octave Class A ordinary share for every 10 Hexagon Series A shares held and one Class B ordinary share for every 10 Series B shares held as of the May 22 record date.

Non-affiliate holders of Hexagon Series B shares received Octave Class B shares via SDRs issued by Skandinaviska Enskilda Banken, with each SDR representing one underlying ordinary share. SDR holders may convert their receipts into Class B shares through their bank or broker, with conversion fees waived for the first six months following initial trading.

Morgan Stanley, Rothschild & Co and Skandinaviska Enskilda Banken served as financial advisors on the transaction. Legal counsel was provided by Sullivan & Cromwell LLP in the U.S., Mannheimer Swartling in Sweden and Arthur Cox LLP in Ireland.