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

Baker Hughes Co. (BKR) announced Monday that it has entered into a definitive agreement to sell Waygate Technologies to Hexagon AB for approximately $1.45 billion in cash. The transaction is expected to be finalized in the second half of 2026. Waygate Technologies, which operates within the Industrial & Energy Technology segment of Baker Hughes, specializes in advanced non-destructive testing (NDT) solutions. The divestiture includes the company's entire portfolio of ultrasound, radiography, remote visual inspection, and imaging solutions, along with all related intellectual property and operational resources. According to the company, the sale is a strategic move to enhance portfolio value and reinforce the corporate balance sheet. Baker Hughes stated that the proceeds from the transaction will support a disciplined capital allocation approach, specifically aimed at strengthening earnings and cash flow. The buyer, Hexagon AB, is a Swedish measurement technology firm with a global footprint spanning over 50 countries and a workforce of approximately 24,500 employees. Hexagon provides critical solutions across several high-growth industries, including manufacturing, automotive, construction, and aerospace. Market reaction was modestly positive for the seller. Following the announcement, Baker Hughes shares traded 1.27% higher in overnight sessions to $63.63, recovering from a Friday close of $62.83. Hexagon shares ended the previous trading session slightly up at SEK 94.52 on the Stockholm Stock Exchange.