NewsApr 1, 2022

Hexagon completes its $1.2 billion purchase of ETQ

Hexagon AB took over ETQ, the maker of ETQ Reliance, on 1 April 2022 for $1.2 billion, and ran it in its Manufacturing Intelligence division. ETQ has since moved to the Octave spin-off.

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Hexagon AB completed its purchase of ETQ on 1 April 2022. It paid $1,200 million on a cash and debt-free basis and said ETQ would “operate within Hexagon’s Manufacturing Intelligence division”. Hexagon expected ETQ to bring in revenue of about $75 million in 2022.1

Before that, the growth-equity firm TCV had bought EtQ in August 2017. It was the company’s first outside investment since it was founded in 1992.2

Hexagon later moved ETQ into Octave, which it spun off in May 2026. The product is now sold as Octave Reliance (see our news post).

What it means for buyers

Our ETQ Reliance review notes that no prices are published and that the current subscription agreement lets fees rise by up to 7% a year at renewal, or by a different amount if Octave quotes new pricing at least 30 days before renewal.

  1. CIMdata: Hexagon completes the acquisition of ETQ. Hexagon press release (republished), 1 Apr 2022, checked 1 Oct 2026. ↩︎

  2. EtQ: EtQ announces acquisition by TCV. Company press release (republished by Training Industry), 17 Aug 2017, checked 1 Oct 2026. ↩︎

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