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Stock Markets April 13, 2026 02:18 AM

Hexagon to Acquire Baker Hughes' Waygate Technologies for About $1.45 Billion

Transaction set to close in the second half of 2026; Hexagon will use cash and existing debt capacity to finance purchase

By Leila Farooq BKR
Hexagon to Acquire Baker Hughes' Waygate Technologies for About $1.45 Billion
BKR

Baker Hughes has agreed to sell its Waygate Technologies division to Sweden's Hexagon for roughly $1.45 billion in cash. The transaction is expected to close in the second half of 2026, with Hexagon financing the acquisition through cash and available debt capacity. The move follows Baker Hughes' larger recent acquisition of Chart Industries and is part of broader corporate reshaping under CEO Lorenzo Simonelli.

Key Points

  • Baker Hughes agreed to sell Waygate Technologies to Hexagon for about $1.45 billion in cash; closing expected in the second half of 2026.
  • Hexagon plans to finance the acquisition using cash and existing debt capacity, signaling use of balance sheet resources and leverage.
  • The sale follows Baker Hughes' earlier $13.6 billion all-cash agreement to buy Chart Industries, reflecting a portfolio reshaping toward industrial and energy technology and natural gas/LNG exposure.

Deal terms and timeline

On April 13, Baker Hughes announced the sale of its Waygate Technologies unit to Swedish industrial technology group Hexagon for approximately $1.45 billion in cash. The two companies said the transaction is expected to complete in the second half of 2026. Hexagon indicated it intends to fund the purchase with cash on hand and by using existing debt capacity.

Strategic context at Baker Hughes

The divestiture comes as Baker Hughes continues to reshape its portfolio. Last year, Baker Hughes agreed to acquire Chart Industries in a $13.6 billion all-cash transaction intended to strengthen its industrial and energy technology capabilities, with an explicit aim of expanding the company’s footprint in the natural gas and LNG sectors.

Under CEO Lorenzo Simonelli, Baker Hughes has been repositioning the business to address the global energy transition - selling non-core assets while directing capital toward cleaner energy solutions, the company has said. The Waygate sale aligns with that pattern of streamlining and redeploying resources.

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What remains open

The companies provided a timetable for closing and a financing plan for the buyer, but additional details about regulatory approvals, integration planning, or any further adjustments to either company’s operations were not disclosed in the statements accompanying the announcement.

Disclosure: None.

Risks

  • Closing timing and completion risk - the deal is expected to close in the second half of 2026, leaving potential regulatory or timeline uncertainty that could affect both companies - impacts the industrial and energy sectors.
  • Financing and leverage risk for Hexagon - the company plans to use cash and existing debt capacity, which may influence its balance sheet flexibility and cost of capital - impacts industrial technology and capital markets.
  • Operational and strategic integration uncertainty - the announcement did not provide details on regulatory approvals or integration plans, which could affect expected synergies or transitions for the industrial and energy technology businesses.

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