Baker Hughes to Sell Waygate Unit to Sweden’s Hexagon for $1.45 Billion
U.S. oil-field services provider Baker Hughes has agreed to sell its Waygate Technologies business unit to Swedish industrial technology company Hexagon in a cash transaction valued at approximately $1.45 billion. The announcement marks a significant strategic divestiture for Baker Hughes as it streamlines its portfolio, while Hexagon expands its footprint in the industrial quality and productivity sector. Waygate Technologies, headquartered in Germany, specializes in providing advanced testing and inspection technologies designed to evaluate the structural integrity of materials across various critical industries. In the fiscal year 2025, the unit reported revenues of around $630 million and achieved an earnings before interest and tax (EBIT) margin of 10%. This acquisition allows Hexagon to integrate Waygate's specialized non-destructive testing capabilities into its broader suite of digital reality solutions. The deal underscores ongoing consolidation trends within the global industrial technology and energy services sectors, with major players adjusting their assets to focus on core competencies and high-growth areas. The transaction is expected to close subject to customary regulatory approvals and closing conditions, reflecting strong confidence in the long-term value of industrial inspection technologies.
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Baker Hughes to Sell Waygate Unit to Sweden’s Hexagon for $1.45 Billion
U.S. oil-field services provider Baker Hughes has agreed to sell its Waygate Technologies business unit to Swedish industrial technology company Hexagon in a cash transaction valued at approximately $1.45 billion. The announcement marks a significant strategic divestiture for Baker Hughes as it streamlines its portfolio, while Hexagon expands its footprint in the industrial quality and productivity sector. Waygate Technologies, headquartered in Germany, specializes in providing advanced testing and inspection technologies designed to evaluate the structural integrity of materials across various critical industries. In the fiscal year 2025, the unit reported revenues of around $630 million and achieved an earnings before interest and tax (EBIT) margin of 10%. This acquisition allows Hexagon to integrate Waygate's specialized non-destructive testing capabilities into its broader suite of digital reality solutions. The deal underscores ongoing consolidation trends within the global industrial technology and energy services sectors, with major players adjusting their assets to focus on core competencies and high-growth areas. The transaction is expected to close subject to customary regulatory approvals and closing conditions, reflecting strong confidence in the long-term value of industrial inspection technologies.
WSJ.com: US Business