Baker Hughes sells Waygate unit to Hexagon for 1.45 billion
Baker Hughes sold its Waygate Technologies unit to Swedish group Hexagon for 1.45 billion dollars. The all-cash deal was confirmed by the company on Monday.
Oilfield services provider BAKER HUGHES CO announced on Monday that it has entered into a definitive agreement to sell its Waygate Technologies business. The purchaser is HEXAGON AB-B SHS, a leading industrial technology group based in Sweden. The transaction is valued at approximately $1.45 billion and will be settled entirely in cash. Waygate Technologies is recognized for its expertise in industrial inspection and non-destructive testing. This divestment aligns with the ongoing strategy of Baker Hughes to refine its portfolio and focus on high-growth energy sectors. For Hexagon, the acquisition represents a significant expansion of its digital reality solutions and industrial sensor capabilities. The deal is expected to close following customary regulatory approvals.
