Baker Hughes completes $1.45B Waygate sale
Key points
- Baker Hughes completed the sale of its Waygate Technologies business to Hexagon in an all-cash transaction.
- The sale generated approximately $1.45 billion in pre-tax cash proceeds before customary closing adjustments.
- Baker Hughes said the divestiture strengthens its balance sheet and supports more predictable earnings and cash flow.
Baker Hughes (NASDAQ:BKR) completed the sale of its Waygate Technologies business to Hexagon in an all-cash transaction that generated approximately $1.45 billion in pre-tax proceeds before customary closing adjustments.
The transaction transfers Waygate's industrial inspection technology business to Hexagon, following the companies' April 2026 agreement to complete the sale for approximately $1.45 billion.
The sale includes Waygate's remote visual inspection, ultrasound, radiography and imaging solutions portfolios, together with its intellectual property, business locations, resources and other operating assets.
Baker Hughes said the divestiture strengthens its balance sheet and improves the durability of its earnings and cash flow, while the transaction provides cash proceeds that can support its broader financial and portfolio priorities.
The completed sale removes Waygate from Baker Hughes' business portfolio, with the company continuing to focus on its energy technology and industrial operations.
Baker Hughes has been reshaping its portfolio through acquisitions and divestitures, including its July 2026 completion of the acquisition of Chart Industries, which expanded its industrial and energy technology operations.
The company reported third-quarter 2026 revenue of approximately $8.03 billion and net income of $422 million, while continuing to operate across oilfield services, industrial technology and energy equipment markets.
