Baker Hughes (NASDAQ:BKR) said Monday it has reached an agreement to divest its Waygate Technologies division to Swedish group Hexagon AB for $1.45 billion in cash.
The disposal forms part of a wider strategic reshaping at Baker Hughes, as the company looks to streamline its portfolio and strengthen its balance sheet and liquidity position.
Earlier this year, the oilfield services group completed the divestments of its Precision Sensors & Instrumentation business as well as its Cactus Joint Venture, continuing its push to simplify operations.
At the same time, Baker Hughes is pursuing growth through acquisitions, including its planned $13.6 billion purchase of Chart Industries.
The company expects the Waygate transaction to be finalised in the second half of 2026. Waygate specialises in non-destructive testing and inspection solutions used to assess materials and components, and operates in more than 80 countries with a workforce of over 1,700 employees.