Baker Hughes has agreed to sell its Waygate Technologies business to Sweden-based Hexagon AB for about $1.45 billion in cash, as part of a broader portfolio reshaping strategy aimed at sharpening its focus on core energy and industrial technology segments.
The divestiture includes Waygate’s full suite of non-destructive testing services—spanning remote visual inspection, ultrasound, radiography and imaging—along with its intellectual property and global operating footprint. The transaction aligns with Baker Hughes’ (Nasdaq: BKR) ongoing capital reallocation efforts, following multiple recent portfolio moves and its pending acquisition of Chart Industries, and is expected to close in the second half of 2026, subject to regulatory approvals. Waygate Technologies operates within the industrial inspection and asset integrity space, providing advanced non-destructive testing equipment used to evaluate critical infrastructure without disrupting operations.
JPMorgan is acting as financial adviser to Baker Hughes.