BY Richard Summerfield
Energy technology company Baker Hughes has announced it is to sell its Waygate Technologies business to Hexagon, a global leader in measurement technologies, in a deal worth around $1.45bn.
The transaction, which is subject to customary conditions, including regulatory approvals, is expected to close in the second half of 2026 and will be paid for in cash and on a debt-free basis.
The sale includes Waygate Technologies’ remote visual inspection, ultrasound, radiography and imaging solutions portfolios, alongside all assets of the business, including intellectual property, footprint and resources.
Hexagon, which is headquartered in Stockholm, Sweden, has approximately 24,500 employees in 50 countries. A global leader in precision measurement, positioning and autonomous solutions, Hexagon provides the confidence that customers rely on to build, navigate and innovate, driving productivity, quality, safety and sustainability in industries like aerospace and defence, automotive, construction, general manufacturing and mining.
The sale of Waygate is another in a series of transactions carried out by Baker Hughes in recent months. In addition to divesting Waygate, the company has also recently completed three other transactions and is in the process of acquiring Chart Industries in a $13.6bn all-cash deal. According to Baker Hughes, these actions are intended to enhance the durability of earnings and cash flow, with the proceeds further reinforcing the strength of its balance sheet.
Lorenzo Simonelli, chairman and chief executive of Baker Hughes, said the transaction represents an important new milestone and underscores the company’s continued focus on creating long-term shareholder value. He explained that by concentrating more sharply on core capabilities such as rotating equipment, flow control, digital solutions, production optimisation and decarbonisation, Baker Hughes is positioning itself to generate stronger returns while increasing investment in high-growth areas that support its long-term strategic vision.
Anders Svensson, president and chief executive of Hexagon, said the acquisition represents a natural and exciting next step in the evolution of Hexagon Manufacturing Intelligence’s strategy. He noted that Waygate Technologies adds world‑class inspection capabilities and strong, longstanding customer relationships in markets that closely complement Hexagon’s own.
By bringing together Waygate’s non‑destructive testing expertise with Hexagon’s precision measurement portfolio, software strengths and global infrastructure, the combined business is expected to offer a uniquely integrated solution, helping customers deliver higher quality, improved efficiency and greater confidence throughout the entire product lifecycle.
Mr Svensson also highlighted a substantial opportunity to generate additional value by applying Hexagon’s operating model – focused on close customer engagement, clear accountability and robust performance management – to Waygate’s operations, supporting meaningful margin improvement over the medium term.
News: Baker Hughes to sell Waygate unit to Hexagon for about $1.45 billion