HUNTSVILLE, Ala. (MAY 5, 2026) - Octave, the planned software spinoff from Hexagon AB, today announced the acquisition of VXG Inc., a provider of enterprise-grade, cloud-native video management software.

Octave's portfolio simplifies complexity across the asset lifecycle. The acquisition will enable Octave to build upon the AI-enhanced cloud capabilities in its physical security portfolio and further strengthen its software offerings for protecting people, places and assets.

VXG's cloud-native platform allows corporate campuses, finance, retail, education, health care and public safety organizations to manage small to mid-sized security installations. Its AI-powered engine combines computer vision analytics and generative AI capabilities for intelligent monitoring, alerts and investigations, along with secure access and evidence-sharing workflows. Its open ecosystem supports hundreds of camera models and is built for service providers delivering Video Surveillance-as-a-Service (VSaaS).

The acquisition builds on a partnership that began in June 2025, when Hexagon introduced a cloud-based video management system built on VXG's offering. Bringing VXG in-house provides Octave full control of its technology stack, paving the way to for future portfolio integrations and product enhancements.

"VXG's cloud-based video management system gives Octave an immediate advantage and supports our cloud roadmap," said Octave CEO Mattias Stenberg. "Its AI-driven design aligns with our vision of intelligence at scale. The acquisition expands our hybrid deployment options - cloud, edge and on-premises - positioning Octave to lead the shift to cloud-first solutions."

The VXG leadership team, led by CEO Yaro Lisitsyn, will remain with the company to drive continued development of the cloud roadmap and ensure continuity for customers and partners.

VXG had revenues of around US$ 1.0m in 2025 and will be fully consolidated within the Protect workflow environment from May 2026.

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FOR MORE INFORMATION, CONTACT:  

Elizabeth Chwalk, VP Investor Relations, Octave, +1 401.749.0278, elizabeth.chwalk@octave.com
David Cryer, Chief Marketing Officer, Octave, +1 678.515.1797, david.cryer@octave.com

About VXG Inc.:
VXG delivers advanced cloud video surveillance solutions tailored to companies worldwide. Its flagship product, VXG Cloud VMS, enables users to create new security SaaS products or transition existing systems into fully scalable, customizable SaaS models. With proven expertise in scaling solutions to hundreds of thousands of cameras, VXG empowers companies to stay ahead in an ever-evolving industry. For more information, visit www.videoexpertsgroup.com.

About Octave:
Octave provides mission-critical software that empowers organizations to make informed decisions across every stage of the asset lifecycle - Design, Build, Operate and Protect - where performance, safety, and reliability are non-negotiable and failure is not an option.

Turning complex operational data into actionable intelligence, Octave connects expertise, real-world conditions and enterprise-scale insight to improve performance, resilience and incident response where it matters most.

Octave has approximately 7,200 employees in 45 countries. Learn more at octave.com and follow us on LinkedIn.