Hexagon purchases Waygate Technologies for $1.45 billion.

      Waygate generates about $630 million in yearly revenue and employs roughly 1,500 staff across 25 locations. The acquisition equips Hexagon’s Manufacturing Intelligence division with computed tomography, radiography, and remote visual inspection technology, drawing on over 130 years of combined expertise.

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

      Waygate is a leading global provider in non-destructive testing, a sector of industrial inspection that identifies faults and structural defects in components without the need for dismantling or damaging them. The transaction is expected to finalize in the latter half of 2026, contingent on regulatory approvals. J.P. Morgan is acting as the exclusive financial advisor to Baker Hughes for this deal.

      Headquartered in Germany, Waygate Technologies operates in 25 locations worldwide with around 1,500 employees. It reported nearly $630 million in annual revenue for the fiscal year 2025, with a 10% EBIT margin.

      The company boasts a legacy of over 130 years through various established NDT brands such as Krautkämer, Phoenix, Seifert, Everest, and Agfa NDT. Its technology offerings cover four main areas: computed tomography (CT), radiography, remote visual inspection, and ultrasound.

      In March 2026, it was recognized by Frost & Sullivan as Global Company of the Year in remote visual inspection. Waygate’s revenue is distributed geographically, with 34% from Asia, 30% from North America, 28% from Europe, and 8% from other regions, serving industries such as aerospace, automotive, energy, battery, electronics, rail, and advanced manufacturing.

      For Hexagon, this acquisition signifies a significant growth opportunity for its Manufacturing Intelligence division. The company’s current precision measurement offerings excel in external surface analysis, assessing and ensuring the quality of the external geometry of manufactured components. Waygate’s NDT technology enhances this capability by enabling internal examination of parts for defect detection and dimensional verification without causing damage.

      Hexagon has categorized Waygate’s Radiography and Remote Visual Inspection divisions as 'Profitability' and 'Growth' assets within its operational framework, indicating they will receive active investment and expansion. Conversely, the Ultrasound and Imaging Solutions segments are labeled as 'Stability' assets, subject to further strategic evaluation, possibly leading to divestitures. Hexagon intends to finance the acquisition using its available cash and existing debt capacity.

      For Baker Hughes, this sale is framed as part of portfolio management. 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 experienced pressure to concentrate its efforts. Selling a $630 million business at approximately 2.3 times revenue enables Baker Hughes to redirect capital toward its core rotating equipment and decarbonization initiatives.