Baker Hughes to sell Waygate Technologies to Hexagon for $1.45bn.

Baker Hughes said on Monday that it has agreed to sell its Waygate Technologies business to Hexagon, a Swedish measurement technologies firm, for about $1.45bn.

Baker Hughes Company
13 April 2026 10:47:05

Source: Sharecast

Waygate, which is 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 US energy technology company said the sale encompasses Waygate’s remote visual inspection, ultrasound, radiography, and imaging solutions portfolios, and all assets of the business, including intellectual property, footprint and resources.

Baker Hughes chairman and chief executive Lorenzo Simonelli said: "This transaction marks another significant milestone and reinforces our ongoing commitment to long-term value creation for our shareholders.

"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."

The deal is expected to close in the second half of this year.

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.