Baker Hughes sells Waygate unit to Hexagon for $1.45 billion

Baker Hughes, an energy technology firm, has agreed to sell its Waygate Technologies business to the global measurement technology leader Hexagon for approximately $1.45 billion in an all-cash transaction announced Monday.

"This transaction accelerates Baker Hughes' strategic transformation to a focused energy technology company," Lorenzo Simonelli, chairman and CEO of Baker Hughes, said in a statement. "We are positioning the company for the future of energy."

The deal, valued at approximately $1.45 billion before customary closing adjustments, will see Baker Hughes divest its industrial inspection and non-destructive testing solutions provider. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and other customary closing conditions. Further financial details, including the premium to the undisturbed share price, were not disclosed.

For Baker Hughes, the divestiture provides a significant cash infusion of $1.45 billion, which could be used for debt reduction, share buybacks, or reinvestment in its core energy-focused businesses. For Hexagon, the acquisition of Waygate Technologies will expand its portfolio in the industrial measurement and inspection space, although it also introduces the challenge of integrating a large new business.

This article is for informational purposes only and does not constitute investment advice.