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Baker Hughes Announces Sale of Waygate Technologies to Hexagon - Baker Hughes (NASDAQ:BKR)

On Monday, Houston-based Baker Hughes announced an agreement to sell its Waygate Technologies unit to Hexagon for about $1.45 billion in cash, with the transaction expected to close in the second half of 2026.
Baker Hughes Chairman and CEO Lorenzo Simonelli said the divestiture aligns with the company's strategic approach to portfolio management and sharpening focus on core strengths like production optimization.
Waygate Technologies, which provides non-destructive testing for critical assets, generated earnings before interest, taxes, depreciation and amortization of $83 million on revenue of $630 million last year.
Stockholm-Based Hexagon plans to finance the acquisition using cash and existing debt facilities, stating it anticipates "meaningful margin improvement over the medium term" from Waygate.
This sale follows other recent divestitures as Baker Hughes adapts its business model to the global energy transition; shares of the company have gained more than 37% so far this year.

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