Baker Hughes Sells Waygate Technologies to Hexagon in $1.45 Billion Deal

Baker Hughes has sold its Waygate Technologies unit to Hexagon for $1.45 billion in cash. The sale aligns with Baker Hughes' strategy to adapt to the global energy transition by divesting non-core assets and investing in cleaner energy. Hexagon aims to expand its non-destructive testing solutions with this acquisition.

Oilfield services provider Baker Hughes announced the sale of its Waygate Technologies unit to Swedish industrial technology group Hexagon for approximately $1.45 billion in cash. This strategic move is part of Baker Hughes' plan to reshape its business in response to the global energy transition.

The Waygate Technologies unit, based in Hürth, Germany, is known for providing industrial testing and inspection equipment. With this acquisition, Hexagon aims to bolster its non-destructive testing solutions business, leveraging both cash and existing debt capacity to finance the deal, which is expected to close in the second half of 2026.

Baker Hughes is shifting its focus from traditional oilfield services to expanding its footprint in the natural gas and LNG sectors. The company recently agreed to acquire Chart Industries in a $13.6 billion cash deal, aiming to enhance its industrial and energy technology portfolio.

(With inputs from agencies.)