Baker Hughes Announces Sale of Waygate Technologies to Hexagon

Rhea-AI Summary

Baker Hughes (NASDAQ: BKR) agreed to sell its Waygate Technologies business to Hexagon in an all-cash transaction valued at approximately $1.45 billion, before customary closing adjustments. The sale covers Waygate’s inspection portfolios, IP, footprint, and resources.

The transaction supports Baker Hughes’ portfolio management and is expected to close in the second half of 2026, subject to customary conditions and regulatory approvals. Proceeds are intended to reinforce the balance sheet and enhance earnings durability and cash flow.

AI-generated analysis. Not financial advice.

Positive

• $1.45 billion proceeds from Waygate sale
• Proceeds intended to strengthen balance sheet and cash flow
• Focus on core strengths: rotating equipment, flow control, digital, decarbonization

Negative

• Closing is subject to regulatory approvals and customary conditions
• Waygate divested from Industrial & Energy Technology segment

News Market Reaction – BKR

-0.43%

1 alert

-0.43% News Effect

On the day this news was published, BKR declined 0.43%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Waygate sale value: $1.45 billion Current share price: $62.83 1-day price change: -0.93% +3 more

6 metrics

Waygate sale value $1.45 billion All-cash transaction value before closing adjustments

Current share price $62.83 Price before divestiture announcement context

1-day price change -0.93% Move prior to publication of the Waygate sale news

52-week high $67 Pre-news 52-week high level

Hexagon employees 24,500 Global headcount across 50 countries

Hexagon countries 50 Countries in which Hexagon operates

Market Reality Check

Price: $65.47 Vol: Volume 6,149,039 is at 0....

low vol

$65.47 Last Close

Volume Volume 6,149,039 is at 0.63x the 20-day average of 9,834,739, suggesting muted trading versus typical levels. low

Technical Shares at $62.83, trading above the 200-day MA $49.85 and about 6.22% below the 52-week high $67.

Peers on Argus

BKR was down 0.93% while key peers showed mixed moves: SLB -1.22%, HAL -0.11%, N...

BKR was down 0.93% while key peers showed mixed moves: SLB -1.22%, HAL -0.11%, NOV -0.05%, but FTI +1.08% and TS +1.34%, pointing to a company-specific backdrop rather than a uniform sector trend.

Historical Context

5 past events · Latest: Apr 07 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 07	Gas turbine order	Positive	+0.9%	Order for NovaLT gas turbines and compressors for Argentina pipeline project.
Mar 24	AI collaboration	Positive	+1.5%	AI-enabled power optimization partnership with Google Cloud for data centers.
Mar 23	LNG project award	Positive	+3.6%	Selection as technology provider for 8.4 MTPA U.S. offshore LNG terminal.
Mar 20	Earnings schedule	Neutral	-0.6%	Announcement of dates for Q1 2026 earnings release and webcast.
Mar 18	Service agreement	Positive	+0.8%	Five-year strategic service deal with Petrobras for up to 64 gas turbines.

Pattern Detected

Recent company news on orders and strategic agreements generally coincided with positive next-day price reactions.

Recent Company History

Over the last month, Baker Hughes reported multiple commercial wins and strategic updates. Orders for NovaLT™16 gas turbines in Argentina on Apr 7, 2026, an AI collaboration with Google Cloud on Mar 24, 2026, and LNG equipment awards for ST LNG on Mar 23, 2026 all saw positive price follow-through. Service agreements with Petrobras on Mar 18, 2026 also aligned with gains, while an earnings-date announcement had only a modest move. Against this backdrop, the announced sale of Waygate Technologies fits an ongoing stream of portfolio-focused developments.

Market Pulse Summary

This announcement details Baker Hughes’ plan to sell its Waygate Technologies unit to Hexagon for $1...

Analysis

This announcement details Baker Hughes’ plan to sell its Waygate Technologies unit to Hexagon for $1.45 billion in cash, reinforcing a strategy of active portfolio management and focus on core areas like rotating equipment and decarbonization. In context of recent contract wins and collaborations, it underscores a shift toward higher-growth, returns-focused businesses. Investors may track balance-sheet impacts, future capital allocation, and closing progress given the need for customary regulatory approvals and an expected second-half 2026 completion.

Key Terms

all-cash transaction, non-destructive testing, remote visual inspection, ultrasound, +3 more

7 terms

all-cash transaction financial

"Baker Hughes to sell Waygate Technologies business to Hexagon in an all-cash transaction"

An all-cash transaction is a deal where the full purchase price is paid immediately in cash or cash equivalents, rather than through financing or installment payments. For investors, this type of transaction often indicates a quick, straightforward sale and can signal confidence from the buyer, potentially affecting the value and perception of the involved assets.

non-destructive testing technical

"a global leader in advanced non-destructive testing for the inspection of critical assets"

A set of inspection methods used to check the condition of equipment, structures or materials without harming them, like using X-rays, ultrasound or surface scans instead of cutting things open. Investors care because these tests reveal hidden wear, defects or safety issues that affect a company’s operating costs, regulatory compliance, asset life and downtime risk — information that can change expectations for future profits and liabilities.

remote visual inspection technical

"encompasses Waygate Technologies’ remote visual inspection, ultrasound, radiography"

Remote visual inspection is the practice of examining equipment, products, or facilities using images or live video captured from a distance instead of an inspector being physically present. Like using a video call to check a repair, it allows regulators, auditors and investors to verify condition, compliance or progress faster and often at lower cost; that can affect perceived operational risk, timelines and capital needs.

ultrasound medical

"encompasses Waygate Technologies’ remote visual inspection, ultrasound, radiography"

Ultrasound uses high-frequency sound waves—like sonar or a bat’s echo—to create images or deliver targeted therapy inside the body without cutting skin. Investors care because ultrasound devices and related services drive sales across hospitals, clinics and outpatient centers, often involve recurring consumables and software upgrades, and are sensitive to technology advances, regulatory approval and reimbursement policies that affect a supplier’s revenue and growth.

radiography medical

"encompasses Waygate Technologies’ remote visual inspection, ultrasound, radiography"

Radiography is a medical imaging technique that uses X-rays to create pictures of the inside of the body, like bones and organs, so doctors can diagnose injuries and disease. For investors, it matters because demand for radiography equipment and related services drives revenue for medical device makers, hospitals and diagnostic centers, and is sensitive to factors such as technological advances, reimbursement rules and regulatory approvals — similar to how a factory’s output depends on the machines it uses.

intellectual property technical

"all assets of the business, including intellectual property, footprint and resources"

Intellectual property are legal rights that protect creations of the mind—such as inventions, brand names, designs, software, or secret formulas—giving the owner control over who can use, copy or sell them. For investors, IP is like owning a blueprint or recipe: it can generate steady income through exclusive sales or licensing, boost a company’s competitive edge and valuation, and also create costs or risks if rights must be defended or challenged in court.

regulatory approvals regulatory

"subject to customary conditions, including regulatory approvals, and is expected to close"

Regulatory approvals are official permissions from government agencies that a company needs before launching a new product, service, or business activity. They matter because without this approval, the company might not be allowed to operate legally or sell its products, similar to how a driver needs a license to legally drive a car.

AI-generated analysis. Not financial advice.

• Baker Hughes to sell Waygate Technologies business to Hexagon in an all-cash transaction for approximately $1.45 billion, before customary closing adjustments
• This transaction is consistent with Baker Hughes’ strategic approach to value creation and portfolio management

HOUSTON and LONDON, April 13, 2026 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR, “the Company”), an energy technology company, announced Monday that it has entered into an agreement to sell its Waygate Technologies business to Hexagon, a global leader in measurement technologies. The all-cash transaction is valued at approximately $1.45 billion, before customary closing adjustments.

Waygate Technologies, part of Baker Hughes’ Industrial & Energy Technology (IET) segment, is a global leader in advanced non-destructive testing for the inspection of critical assets without disruption. The sale encompasses Waygate Technologies’ remote visual inspection, ultrasound, radiography, and imaging solutions portfolios, and all assets of the business, including intellectual property, footprint and resources.

This divestiture, alongside the three recently completed transactions and the pending acquisition of Chart Industries, demonstrates Baker Hughes’ ongoing dedication to strategic, value-driven portfolio management. These actions are intended to enhance the durability of earnings and cash flow, with the proceeds further reinforcing the strength of the Company’s balance sheet. Through a disciplined, returns-focused capital allocation approach, Baker Hughes continues to strengthen its position for sustainable, long-term growth.

“This transaction marks another significant milestone and reinforces our ongoing commitment to long-term value creation for our shareholders,” said Baker Hughes Chairman and CEO Lorenzo Simonelli. “By sharpening our focus on our core strengths – rotating equipment, flow control, digital, production optimization and decarbonization – we are strategically positioning Baker Hughes to deliver higher returns while accelerating investment in high-growth areas that are aligned with our long-term vision.”

Hexagon, with headquarters in Stockholm, has approximately 24,500 employees in 50 countries. A global leader in precision measurement, positioning, and autonomous solutions, Hexagon provides the confidence that customers rely on to build, navigate, and innovate, driving productivity, quality, safety, and sustainability in industries like aerospace & defense, automotive, construction, general manufacturing and mining.

The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to close in the second half of 2026.

J.P. Morgan Securities LLC is serving as exclusive financial adviser for Baker Hughes on this transaction.

About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

For more information, please contact:

Media Relations

Adrienne M. Lynch
+1 713-906-8407
adrienne.lynch@bakerhughes.com

Investor Relations

Chase Mulvehill
+1 346-297-2561
investor.relations@bakerhughes.com
   

FAQ

What did Baker Hughes (BKR) announce about selling Waygate Technologies on April 13, 2026?

Baker Hughes announced an agreement to sell Waygate Technologies for approximately $1.45 billion in an all-cash deal. According to the company, the sale includes Waygate’s inspection portfolios, intellectual property, footprint, and resources, and supports portfolio rebalancing.

When is the Baker Hughes (BKR) sale of Waygate Technologies expected to close?

The transaction is expected to close in the second half of 2026, subject to conditions. According to the company, closing requires customary conditions and regulatory approvals before completion and customary closing adjustments may apply.

How will the $1.45 billion Waygate sale affect Baker Hughes (BKR) financial position?

Proceeds are intended to reinforce Baker Hughes’ balance sheet and enhance earnings durability and cash flow. According to the company, the funds will support disciplined, returns-focused capital allocation and strengthen long-term financial flexibility.

Which Waygate Technologies businesses are included in Baker Hughes’ (BKR) sale to Hexagon?

The sale includes remote visual inspection, ultrasound, radiography, and imaging solutions portfolios and all related assets. According to the company, the transaction transfers intellectual property, footprint, and resources of the Waygate business.

Who is advising Baker Hughes (BKR) on the Waygate Technologies transaction?

J.P. Morgan Securities LLC is serving as exclusive financial adviser to Baker Hughes on this transaction. According to the company, Hexagon will acquire Waygate in an all-cash deal valued at about $1.45 billion, before adjustments.