Overview
- Baker Hughes agreed to sell its Waygate Technologies unit to Hexagon for about $1.45 billion in cash, with closing subject to regulatory approvals expected in the second half of 2026.
- The deal includes Waygate’s non-destructive testing lines—remote visual inspection, ultrasound, radiography and imaging—along with all related intellectual property, facilities and resources.
- CEO Lorenzo Simonelli said the sale supports a sharper focus on core strengths such as rotating equipment, flow control, digital, production optimization and decarbonization.
- Hexagon, a Stockholm-based leader in precision measurement, positioning and autonomy, gains inspection and imaging tools that complement its offerings across aerospace, automotive, construction, manufacturing and mining.
- Baker Hughes said the transaction aligns with recent portfolio moves and a pending Chart Industries acquisition, and it named J.P. Morgan as its exclusive adviser on the sale.