Hexagon Acquires Waygate Technologies for $1.45 Billion
April 14, 2026 – 6:28 pm
Hexagon AB, the Swedish industrial technology group (with a $29B market cap and €5.4B revenue), has acquired Waygate Technologies from Baker Hughes for $1.45 billion in cash. Waygate is a global leader in non-destructive testing (NDT) with approximately:
- $630 million in revenue
- 1,500 employees across 25 locations
- Technology encompassing CT scanning, radiography, ultrasonics, and remote visual inspection for aerospace, automotive, energy, and industrial manufacturing.
The deal expands Hexagon’s quality assurance capabilities from external surface metrology to internal structural inspection, adding a recurring MRO (maintenance, repair, overhaul) revenue stream. Baker Hughes is streamlining its portfolio by divesting this unit to focus on core energy strengths. The transaction is expected to close in the second half of 2026.
"This is a natural and exciting evolution of Hexagon Manufacturing Intelligence’s strategy," stated Hexagon CEO Anders Svensson. By combining Hexagon’s external metrology tools with Waygate’s internal NDT technology, they offer a complete digital twin of a physical object, both inside and out.
Strategic Benefits
The acquisition brings Hexagon:
- A significant recurring revenue stream from MRO contracts.
- Access to the growing market for non-destructive testing, which is used repeatedly throughout the operational lives of many industrial components.
"The deal also underscores the vibrancy and depth of Europe’s industrial tech scene," a notable observer noted, highlighting its significance within the broader EU tech landscape.