Baker Hughes Sells Waygate Unit To Hexagon For About $1.45 Billion
Reuters14:35
April 13 (Reuters) - Oilfield services provider Baker Hughes BKR.O sold its Waygate Technologies unit to Swedish industrial technology group Hexagon HEXAb.ST for about $1.45 billion in cash, the two companies said on Monday.
The deal is expected to close in the second half of 2026, the companies added.
Hexagon said it plans to finance the acquisition using cash and existing debt capacity.
Last year, Baker Hughes agreed to buy Chart Industries GTLS.N in a $13.6 billion all-cash deal to leverage its industrial and energy technology portfolio to drive growth and expand its presence in the natural gas and LNG sectors.
Baker Hughes CEO Lorenzo Simonelli has been reshaping the company to adapt to the global energy transition, shedding non-core assets while investing in cleaner energy solutions.
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