Hexagon agreed on 13 April to acquire Waygate Technologies, the non-destructive testing business of Baker Hughes, for about US$1.45bn in cash.
Why Hexagon AB is buying Waygate Technologies
The purchase extends Hexagon's reach from the factory floor into the maintenance, repair and operations market and makes it a leading provider of non-destructive testing. Waygate's operating margin of about 10% compares with Hexagon's 27.2% in 2025, and Hexagon plans to lift it through manufacturing in China and revenue synergies.
Deal terms and financing
The deal covers Waygate's remote visual inspection, ultrasound, radiography and imaging portfolios together with all of the business's intellectual property, sites and staff. The price is payable in cash on a debt-free basis, subject to customary adjustments.
Regulatory approvals and timing
Completion is subject to regulatory approvals and other customary conditions and is expected in the second half of 2026.
Market context
For Baker Hughes, which sat Waygate in its Industrial & Energy Technology segment, the sale continues a portfolio reshaping that includes its pending US$13.6bn purchase of Chart Industries.
