Baker Hughes has announced an agreement to sell its Waygate Technologies business to Hexagon in an all-cash transaction valued at approximately $1.45 billion, subject to customary closing adjustments.
Waygate Technologies, part of Baker Hughes’ Industrial & Energy Technology (IET) segment, is a global provider of advanced nondestructive evaluation solutions used for the inspection of critical assets without operational disruption. The transaction includes the full portfolio of remote visual inspection, ultrasonic testing, radiography, and industrial imaging technologies, along with associated intellectual property, operational footprint, and resources.
The divestiture reflects Baker Hughes’ ongoing portfolio optimisation strategy, following three recently completed transactions and alongside its pending acquisition of Chart Industries. The company stated that these actions are aimed at strengthening earnings durability, improving cash flow, and reinforcing its balance sheet through disciplined capital allocation.
“This transaction marks another significant milestone and reinforces our ongoing commitment to long-term value creation for our shareholders,” said Lorenzo Simonelli. “By sharpening our focus on our core strengths – rotating equipment, flow control, digital, production optimization and decarbonization – we are strategically positioning Baker Hughes to deliver higher returns while accelerating investment in high-growth areas that are aligned with our long-term vision.”
Hexagon, headquartered in Stockholm, operates across 50 countries with approximately 24,500 employees. The company specialises in precision measurement, positioning, and autonomous solutions, supporting industries such as aerospace and defence, automotive, construction, manufacturing, and mining. The acquisition of Waygate Technologies expands its capabilities in nondestructive evaluation and industrial inspection technologies.
The transaction is subject to regulatory approvals and other customary conditions, and is expected to close in the second half of 2026.
