Houston, Texas: Baker Hughes Closes $1.45 Billion Sale of Waygate Technologies to Hexagon

Baker Hughes said on Monday that it has closed the sale of its Waygate Technologies business to Hexagon, in an all cash deal valued at about $1.45 billion. The Houston company said the figure is the pre-tax cash it receives, before customary closing adjustments, and that the sale covers every part of Waygate, including its product lines, intellectual property, sites and resources.

What Waygate makes

Waygate Technologies builds equipment that finds flaws inside industrial parts without cutting them open. Its lines cover remote visual inspection, ultrasound, radiography and imaging, including computed tomography systems that scan components from the inside. Testing of that kind lets airlines, carmakers and energy operators check parts for cracks and wear without destroying them. Hexagon said the business has about 1,500 employees at 25 locations and recorded revenue of about $630 million in fiscal 2025, built on more than 130 years of inspection work.

Why Baker Hughes sold

Baker Hughes said the sale fits its commitment to disciplined portfolio management, and that the cash makes its earnings and cash flow more durable and its balance sheet stronger. The company is traded on Nasdaq under the ticker BKR and provides technology and services to energy and industrial customers in more than 120 countries. Its announcement carried a Houston and London dateline, reflecting its Texas headquarters and the international reach of the business it sold. Neither company announced job changes in Monday's releases, and Baker Hughes gave no figure for the closing adjustments.

The buyer's side

Hexagon, based in Stockholm and traded there as HEXA B, said Waygate was consolidated into its group on November 1 and will operate inside its Manufacturing Intelligence business area. The deal extends that business into non-destructive testing and into the maintenance, repair and operations market, and it pairs Waygate's CT systems with Hexagon's Volume Graphics software and measurement portfolio. "Waygate Technologies brings world-class inspection technology and loyal customer relationships," Hexagon president and chief executive Anders Svensson said. Hexagon put the enterprise value at about $1,450 million on a cash and debt free basis, financed through cash and existing debt facilities, with pro forma leverage of about 1.4 times net debt to earnings before interest, taxes, depreciation and amortization. It estimated transaction, carve-out and integration costs at about 50 million euros. On fiscal 2025 pro forma figures, the acquisition dilutes the Manufacturing Intelligence margin by about 300 basis points and the group margin by about 150 basis points, and Hexagon said its plan is to raise Waygate toward the business area's target range of 21 to 24 percent EBITAC margin through its operating model, localised manufacturing and cross-selling. Hexagon said it has about 16,000 employees in 50 countries and net sales of about 3.7 billion euros.