(RTTNews) - Baker Hughes Co. (BKR), an energy technology company, on Monday announced that it has entered into an agreement to sell its Waygate Technologies business to Hexagon AB (HXGBY, HEXA-B.ST, HXGBF) in an all-cash transaction at approximately $1.45 billion.
The transaction is expected to close in the second half of 2026.
The divestiture includes Waygate Technologies' remote visual inspection, ultrasound, radiography, and imaging solutions portfolios, along with all related assets, including intellectual property, footprint, and resources.
Waygate Technologies operates within Baker Hughes' Industrial & Energy Technology segment and provides advanced non-destructive testing solutions for critical asset inspection.
Baker Hughes added that the proceeds will support its disciplined capital allocation approach.
The company said the transaction aligns with its strategy to enhance portfolio value, strengthen earnings and cash flow, and reinforce its balance sheet.
Hexagon, a Sweden-based measurement technology company, operates in over 50 countries with approximately 24,500 employees and provides solutions across industries including aerospace, automotive, construction, and manufacturing.
On Friday, Baker Hughes closed trading 0.93% lesser at $62.83 on the Nasdaq. In the overnight, the stock traded 1.27% higher at $63.63.
On Friday, Hexagon closed trading 0.32% higher at SEK 94.52 on the Stockholm Stock Exchange.
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