Sweden-based Hexagon, an industrial technology company active in a variety of areas that range from aerospace to mining, has officially spun off the company, based in Alabama.
The new company includes Hexagon’s Asset Lifecycle Intelligence and Safety, Infrastructure and Geospatial divisions.
A Hexagon spokesperson tells Government Technology that Hexagon’s previous state and local gov tech business “will now go through Octave. They work with city, county and state agencies for public safety, transportation and more.”
Octave’s business also covers a wide range of industries, from chemicals to transportation.
For governments, Octave sells to such sectors as public safety, public works, utilities, education and prisons. Products include geospatial, security hardware for corrections, data and analytics tools for public safety and smart city tech.
Octave shares started trading Thursday via Nasdaq. Octave joins a handful of gov tech suppliers that are publicly traded. Private equity increasingly helps to drive the industry and those suppliers look to scale themselves and their often cutting-edge products.
Octave has 7,200 employees in 45 countries, according to a statement.
Earlier this month, Octave announced it had bought VXG, a company whose cloud-native video management software is used by public safety agencies, schools, medical facilities and other customers.
