# Hexagon completes its $1.2 billion purchase of ETQ

Source: https://bestqmssoftware.com/news/hexagon-acquires-etq/
By Tom Muller, updated October 6, 2026


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.[^hexagon-close]

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.[^tcv]

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](/news/octave-spin-off-etq-reliance/)).

## What it means for buyers

Our [ETQ Reliance review](/reviews/etq-reliance/) 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.

[^hexagon-close]: [CIMdata: Hexagon completes the acquisition of ETQ](https://www.cimdata.com/en/industry-summary-articles/item/18229-hexagon-completes-the-acquisition-of-etq). Hexagon press release (republished), 1 Apr 2022, checked 1 Oct 2026.
[^tcv]: [EtQ: EtQ announces acquisition by TCV](https://trainingindustry.com/press-release/compliance/etq-announces-acquisition-by-tcv/). Company press release (republished by Training Industry), 17 Aug 2017, checked 1 Oct 2026.