Baker Hughes to divest Waygate Technologies to Hexagon in $1.45B deal

Baker Hughes (NASDAQ:BKR), a global leader in energy technology, announced on April 13, 2026, that it has reached a definitive agreement to sell its Waygate Technologies business to Hexagon, a Swedish-based leader in digital reality solutions.

The all-cash transaction is valued at approximately $1.45 billion, marking a significant step in Baker Hughes’ ongoing strategy to streamline its industrial and energy technology portfolio.

The divestiture includes the entirety of Waygate’s world-class inspection portfolio, including its hardware, software, intellectual property, and global manufacturing footprint.

Waygate is recognized as a leader in non-destructive testing (NDT), providing advanced X-ray, computed tomography (CT), and ultrasonic inspection services to sectors ranging from aviation and automotive to electronics and energy.

The sale is a central component of Baker Hughes' commitment to "active portfolio management," aimed at simplifying the company's organizational structure and focusing on high-growth areas within the energy transition and industrial automation sectors.

By offloading the inspection-heavy Waygate unit, Baker Hughes intends to reinforce its balance sheet and enhance its long-term earnings durability.

The transaction is expected to close in the second half of 2026, contingent upon customary closing adjustments, regulatory approvals, and other standard conditions.