Baker Hughes announces sale of Waygate Technologies to Hexagon
05/05/2026
Baker Hughes has announced that it has entered into an agreement to sell its Waygate Technologies business to Hexagon, a global leader in measurement technologies. The all-cash transaction is valued at approximately $1.45 billion (approximately £1.07 billion), before customary closing adjustments.
Waygate Technologies, part of Baker Hughes’ Industrial & Energy Technology (IET) segment, is a global leader in advanced non-destructive testing for the inspection of critical assets without disruption. The sale encompasses Waygate Technologies’ remote visual inspection, ultrasound, radiography and imaging solutions portfolios, as well as all assets of the business, including intellectual property, footprint and resources.
This divestiture, alongside the three recently completed transactions and the pending acquisition of Chart Industries, demonstrates Baker Hughes’ ongoing dedication to strategic, value-driven portfolio management.
These actions are intended to enhance the durability of earnings and cash flow, with the proceeds further reinforcing the strength of the company’s balance sheet. Through a disciplined, returns-focused capital allocation approach, Baker Hughes continues to strengthen its position for sustainable, long-term growth.
“This transaction marks another significant milestone and reinforces our ongoing commitment to long-term value creation for our shareholders,” said Lorenzo Simonelli, Chair and CEO of Baker Hughes. “By sharpening our focus on our core strengths –rotating equipment, flow control, digital, production optimisation and decarbonisation – 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, with headquarters in Stockholm, 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 such as aerospace and defence, automotive, construction, general manufacturing and mining.
The acquisition marks a significant expansion of Hexagon’s Manufacturing Intelligence (MI) business area into the non-destructive testing (NDT) market, a space Hexagon views as a natural evolution of its core precision measurement capabilities, extending quality assurance from the surface of a component to its interior geometry.
Alongside the attractive expansionary market opportunity and the strategic fit, the transaction represents a compelling value creation opportunity, with a clear pathway to materially improve Waygate’s margins through strategic actions, manufacturing optimisation, China localisation and revenue synergies across the combined customer base.
Anders Svensson, President and CEO of Hexagon, commented: “This acquisition is a natural and exciting evolution of Hexagon Manufacturing Intelligence’s strategy.
“Waygate Technologies brings world-class inspection technology and deeply loyal customer relationships in markets that are highly complementary to our own. By combining Waygate’s NDT expertise with Hexagon’s precision measurement portfolio, software capabilities and global infrastructure, we will create a uniquely integrated offering that helps our customers achieve higher quality, greater efficiency and improved confidence across the full product lifecycle.
“We also see a significant opportunity to create value by applying Hexagon’s operating model, which is built on driving closeness to customers via accountability and strong performance management, to Waygate’s businesses and driving meaningful margin improvement over the medium term. I look forward to welcoming the Waygate team to Hexagon and working together to drive future profitable growth.”
The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to be completed in the second half of 2026.
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