Baker Hughes Sells Waygate Technologies to Hexagon for $1.45 Billion
Baker Hughes sold its Waygate Technologies unit to Swedish industrial technology company Hexagon for $1.45 billion in cash. The deal was announced April 13, 2026.
Baker Hughes, a major provider of oilfield services, has agreed to sell its Waygate Technologies unit to Hexagon, a Swedish industrial technology group, for approximately $1.45 billion in cash.
The all-cash transaction was announced on April 13, 2026, and is subject to customary closing adjustments. Waygate Technologies specializes in measurement technologies and industrial inspection equipment.
This sale represents a significant move by Baker Hughes to streamline its operations and focus on its core energy services business. The company has been working to optimize its portfolio and concentrate on areas where it has the strongest competitive advantages.
Hexagon, the buyer, is known as a leader in measurement technologies and digital solutions. The acquisition of Waygate Technologies will expand Hexagon's capabilities in industrial testing and inspection services.
The deal still needs regulatory approval and other standard closing conditions before it can be completed. Both companies expect the transaction to close in the coming months.
This sale shows how big energy companies are reshaping their businesses by selling off parts that don't fit their main focus. The $1.45 billion will likely help Baker Hughes invest more in its core oil and gas services.
The deal awaits regulatory approval and standard closing conditions before completion in the coming months.
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