Baker Hughes to sell Waygate Technologies to Hexagon for $1.45 billion

Baker Hughes said it will sell its Waygate Technologies business to Hexagon in an all-cash transaction for approximately $1.45 billion. (Image: Waygate Technologies)

Baker Hughes has agreed to sell its Waygate Technologies business to Hexagon in an all-cash transaction valued at approximately $1.45 billion, the company announced April 13.

Waygate Technologies, part of Baker Hughes’ Industrial & Energy Technology segment, specializes in advanced non-destructive testing solutions used to inspect critical assets without interrupting operations. The sale includes the unit’s full portfolio of remote visual inspection, ultrasound, radiography and imaging technologies, along with its intellectual property, facilities and personnel.

The divestiture is the latest move in a broader portfolio reshaping effort by Baker Hughes, which has completed several transactions in recent months and is pursuing the pending acquisition of Chart Industries. The company said the actions are designed to strengthen earnings durability and cash flow while reinforcing its balance sheet.

Chairman and CEO Lorenzo Simonelli said the sale supports the company’s strategy of concentrating on higher-growth, core areas, including rotating equipment, flow control, digital technologies, production optimization and decarbonization.

Hexagon, headquartered in Stockholm, employs approximately 24,500 people across 50 countries and provides measurement, positioning and autonomous solutions across industries such as aerospace, automotive, construction and mining. The acquisition of Waygate Technologies is expected to expand its capabilities in industrial inspection and asset integrity.

The transaction remains subject to customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2026.