Measurement technology group Hexagon has appointed the Board of Directors for its planned spin-off, Octave Intelligence, ahead of a potential separation and public listing.
The Board will be chaired by Brett Watson, President of Koch Equity, and also includes Magnus Ahlqvist, David Hollister, Meerah Rajavel, Jill Smith, and Octave CEO Mattias Stenberg.
"It is a privilege to work with a board of this caliber," says Mattias Stenberg, CEO and board member of Octave.
"Their collective experience raises the bar for how we operate and ultimately makes us better partners for the customers who rely on our platforms every day."
Several members have previously held senior leadership roles at companies such as Securitas, Bentley Systems, and Palo Alto Networks. Watson and Smith have also previously served as board members of Hexagon.
All directors except for Stenberg are expected to be considered independent under the listing rules of the Nasdaq Global Select Market and Nasdaq Stockholm.
The separation, spin-off, and potential listing of Octave remain subject to approval by Hexagon's Board of Directors and shareholders, as well as other conditions and regulatory decisions.
Hexagon AB specializes in the design, manufacture and marketing of equipment and information systems for geospatial and industrial applications. The group's activity is organized around 2 product families
- metrology systems : stationary and portable measuring equipment, coordinate measuring machines, laser plotters and scanners, etc. The group also offers computer-aided design, manufacturing and engineering software ;
- geospatial solutions : sensors, laser scanners, GPS systems, motorized air vehicles, mobile mapping systems, satellite geolocation systems, etc. The products are intended especially for the sectors of inspection, construction and infrastructure, natural resources, and public security.
Net sales are distributed geographically as follows: Europe/Middle East/Africa (35.4%), Americas (39%) and Asia (25.6%).
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