Hexagon has purchased Waygate Technologies for $1.45 billion.

      Waygate generates roughly $630 million in yearly revenue and has about 1,500 employees spread across 25 locations. The acquisition provides Hexagon's Manufacturing Intelligence division access to computed tomography, radiography, and remote visual inspection technology, boasting over 130 years of combined experience.

      Hexagon, based in Stockholm and specializing in measurement and sensor technology, has reached an agreement to purchase Waygate Technologies from Baker Hughes, an energy technology firm, in a cash deal valued at approximately $1.45 billion, prior to standard closing adjustments.

      Waygate is recognized globally as a leader in non-destructive testing, an industrial inspection domain that identifies faults and structural defects in components without disassembly or damage. The acquisition is expected to finalize in the second half of 2026, pending regulatory reviews. J.P. Morgan is acting as the exclusive financial adviser to Baker Hughes for the deal.

      Headquartered in Germany, Waygate Technologies operates in 25 locations worldwide and employs approximately 1,500 staff. In the fiscal year 2025, it reported about $630 million in annual revenue with a 10% EBIT margin. The company draws upon over 130 years of combined experience through a range of established NDT brands such as Krautkämer, Phoenix, Seifert, Everest, and Agfa NDT. Its technology portfolio covers four primary areas: computed tomography (CT), radiography, remote visual inspection, and ultrasound.

      In March 2026, Frost & Sullivan recognized it as the Global Company of the Year in remote visual inspection. Waygate’s revenue distribution spans Asia (34%), North America (30%), Europe (28%), and other regions (8%), catering to industries including aerospace, automotive, energy, battery, electronics, rail, and advanced manufacturing.

      For Hexagon, this acquisition signifies a substantial enhancement of its Manufacturing Intelligence division. The company’s current precision measurement portfolio is adept at analyzing external surfaces, measuring, and quality-checking the external geometry of manufactured parts. Waygate’s NDT technology expands that capability to the internal structure of components, facilitating defect detection and dimensional verification without causing destruction.

      Hexagon has categorized Waygate’s Radiography and Remote Visual Inspection divisions as ‘Profitability’ and ‘Growth’ assets within its operating model, indicating they will receive focused investment and development. Meanwhile, Ultrasound and Imaging Solutions are noted as ‘Stability’ assets, subject to further strategic evaluation, potentially involving divestitures. Hexagon intends to finance the acquisition using available cash and existing debt capacity.

      For Baker Hughes, this sale is framed as part of its portfolio management strategy. CEO Lorenzo Simonelli stated that the transaction "marks another significant milestone and reinforces our ongoing commitment to long-term value creation for our shareholders." Waygate is part of Baker Hughes' Industrial & Energy Technology segment, which has been under pressure to streamline its focus. By divesting a $630 million business at around 2.3 times its revenue, Baker Hughes aims to reallocate capital towards its core rotating equipment and decarbonization initiatives.