Hexagon Acquires Waygate Technologies for $1.45 Billion
April 14, 2026 – 12:17 pm
Waygate generates approximately $630 million in annual revenue with around 1,500 employees across 25 locations. The deal gives Hexagon’s Manufacturing Intelligence division access to computed tomography, radiography, and remote visual inspection technology with 130+ years of combined heritage.
Hexagon, the Stockholm-headquartered measurement and sensor technology group, has agreed to acquire Waygate Technologies from energy technology company Baker Hughes in an all-cash transaction valued at approximately $1.45 billion, before customary closing adjustments.
Waygate is a global leader in non-destructive testing (NDT), the field of industrial inspection that detects faults and structural defects in components without dismantling or damaging them. The deal is expected to close in the second half of 2026, subject to regulatory approvals. J.P. Morgan is serving as exclusive financial adviser to Baker Hughes on the transaction.
Waygate Technologies, headquartered in Germany, operates across 25 locations worldwide, employing approximately 1,500 people. It generated around $630 million in annual revenue in fiscal year 2025 at a 10% EBIT margin.
The acquisition represents a meaningful expansion of Hexagon’s Manufacturing Intelligence division. The company’s existing precision measurement portfolio excels at external surface analysis, and Waygate’s NDT technology extends that capability inward, into the internal structure of parts.
Hexagon has classified Waygate’s Radiography and Remote Visual Inspection businesses as ‘Profitability’ and ‘Growth’ assets respectively, indicating they will receive active investment and expansion, while categorising Ultrasound and Imaging Solutions as ‘Stability’ assets subject to further strategic review, which may include divestitures. Hexagon plans to finance the deal using available cash and existing debt capacity.
For Baker Hughes, the sale is presented as portfolio management. The company’s CEO Lorenzo Simonelli stated that the transaction “marks another significant milestone and reinforces our ongoing commitment to long-term value creation for our shareholders.”