Hexagon AB has announced its Board of Directors has authorized management to explore a potential spin-off of its Asset Lifecycle Intelligence (ALI) business.
This proposed separation could take the form of a Lex Asea distribution to shareholders, with listing options being evaluated in both the U.S. and Sweden.
The new entity, referred to as NewCo, is expected to encompass the ETQ and Bricsys businesses, along with the Utilities & Infrastructure division transitioning into ALI.
The goal of this separation is to create two distinct public companies, each with unique operational strategies and financial profiles.
Hexagon aims to sharpen its focus on real-time data integration while NewCo will concentrate on digital asset management.
With approximately 5,000 employees and revenues nearing EUR 980 million, NewCo is poised for significant growth.
Mattias Stenberg, currently President of Hexagon’s ALI division, will lead NewCo.
Chairman Ola Rollén emphasized that both companies will benefit from enhanced competitive advantages through this strategic move.
The separation process is projected to take between 12 to 18 months and will require board and shareholder approval.
While the future remains uncertain, this potential spin-off could redefine the landscape for both Hexagon and NewCo.
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