Baker Hughes completes $1.45 billion sale of Waygate Technologies to Hexagon
Baker Hughes (BKR) closed the sale of its Waygate Technologies unit to Hexagon AB on 2 Nov 2026 for an all‑cash consideration of approximately $1.45 billion. Waygate, a leader in non‑destructive testing, generated about $630 million of revenue in fiscal 2025 with a roughly 10% operating margin. The proceeds are intended to strengthen Baker Hughes’ balance sheet and sharpen its focus on core oilfield and gas‑technology businesses.
Why it matters
The cash inflow bolsters Baker Hughes’ liquidity, allowing potential debt reduction, buybacks or further strategic investments, while the divestiture narrows the company’s portfolio to its core energy services. Hexagon expects the acquisition to initially dilute its margins but plans to improve Waygate’s profitability, which could affect Hexagon’s future earnings profile.
Key facts
- 1The transaction value was approximately $1.45 billion in cash before customary closing adjustments. stocktitan.net
- 2The sale was completed on 2 Nov 2026. abcmoney.co.uk
- 3Waygate reported fiscal‑2025 revenue of roughly $630 million. abcmoney.co.uk
- 4Waygate’s 2025 operating margin was about 10%. abcmoney.co.uk
- 5Baker Hughes allocated $492 million of goodwill to the Waygate disposal group in its 3Q 2026 10‑Q filing. abcmoney.co.uk
- 6Baker Hughes shares closed at $53.80, down 1.78% on the announcement day. abcmoney.co.uk
Summary written by AlphAI AI Desk from 10 of 10 sources. Not investment advice. Figures are as stated by the linked sources.