Baker Hughes Divests Waygate Technologies to Hexagon in $1.45 Billion All-Cash Deal

Baker Hughes agrees to sell Waygate Technologies to Hexagon for $1.45 billion, enhancing portfolio management and strategic focus.

Quiver AI Summary

Baker Hughes has announced the sale of its Waygate Technologies business to Hexagon for approximately $1.45 billion in an all-cash deal, subject to customary closing adjustments and regulatory approvals, with the transaction expected to be finalized in the second half of 2026. Waygate Technologies, specializing in advanced non-destructive testing, is part of Baker Hughes' Industrial & Energy Technology segment and includes various inspection-related technologies. This divestiture is part of Baker Hughes' strategic efforts to enhance its portfolio and focus on core areas, aligning with its vision for long-term value creation and sustainable growth. CEO Lorenzo Simonelli emphasized this move as a step towards optimizing returns and reinvesting in growth-focused initiatives. J.P. Morgan Securities LLC is acting as the exclusive financial adviser for Baker Hughes in this transaction.

Potential Positives

Baker Hughes is selling its Waygate Technologies business for approximately $1.45 billion in cash, enhancing its financial position.
The sale aligns with Baker Hughes' strategic focus on portfolio management and value creation, which could lead to stronger long-term growth.
This divestiture allows Baker Hughes to concentrate on its core strengths, potentially increasing returns and redirecting investment towards high-growth areas.
Completion of the transaction is expected to bolster the company's balance sheet, improving its ability to generate durable earnings and cash flow.

Potential Negatives

This sale indicates a strategic retreat from the non-destructive testing sector, potentially signaling weaker future revenue streams from that area of expertise.
The transaction emphasizes a reliance on divestitures to optimize the portfolio, which could raise concerns among investors about the company's long-term growth and stability in core areas.
The need for regulatory approvals before the completion of the transaction introduces uncertainty that may affect investor confidence.

FAQ

What is the value of the Waygate Technologies business sale?

The Waygate Technologies business is being sold for approximately $1.45 billion in an all-cash transaction.

Who is acquiring Waygate Technologies from Baker Hughes?

Hexagon, a global leader in measurement technologies, is acquiring Waygate Technologies from Baker Hughes.

What technologies are included in the sale?

The sale includes remote visual inspection, ultrasound, radiography, and imaging solutions portfolios, along with all business assets.

When is the transaction expected to close?

The transaction is expected to close in the second half of 2026, subject to customary regulatory approvals.

What is Baker Hughes' strategy behind this sale?

This sale aligns with Baker Hughes' strategy for value creation and strengthens its focus on core strengths and sustainable growth.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$BKR Insider Trading Activity

$BKR insiders have traded $BKR stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.

Here’s a breakdown of recent trading of $BKR stock by insiders over the last 6 months:

LORENZO SIMONELLI (Chairman, President and CEO) has made 0 purchases and 2 sales selling 545,187 shares for an estimated $32,689,411.
MARIA C BORRAS (Chief Growth & Experience Ofcr) has made 0 purchases and 2 sales selling 115,060 shares for an estimated $6,519,891.
JAMES E APOSTOLIDES (Chief Infra & Performance Ofcr) has made 0 purchases and 2 sales selling 25,824 shares for an estimated $1,542,725.
MARIA GEORGIA MAGNO (Chief Legal Officer) has made 0 purchases and 2 sales selling 24,213 shares for an estimated $1,430,876.
AHMED FARHAN MOGHAL (EVP, Chief Financial Officer) sold 18,102 shares for an estimated $1,107,661
WILLIAM G BEATTIE sold 18,023 shares for an estimated $1,032,537
REBECCA L CHARLTON (SVP, Controller & CAO) has made 0 purchases and 3 sales selling 3,106 shares for an estimated $171,419.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$BKR Revenue

$BKR had revenues of $7.4B in Q4 2025. This is an increase of 0.3% from the same period in the prior year.

You can track BKR financials on Quiver Quantitative's BKR stock page.

$BKR Congressional Stock Trading

Members of Congress have traded $BKR stock 2 times in the past 6 months. Of those trades, 1 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $BKR stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 2 times. They made 1 purchase worth up to $15,000 on 12/19 and 1 sale worth up to $15,000 on 01/09.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$BKR Hedge Fund Activity

We have seen 507 institutional investors add shares of $BKR stock to their portfolio, and 391 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CARDANO RISK MANAGEMENT B.V. added 44,887,481 shares (+1005.1%) to their portfolio in Q4 2025, for an estimated $2,044,175,884
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 26,067,710 shares (-75.4%) from their portfolio in Q4 2025, for an estimated $1,187,123,513
JPMORGAN CHASE & CO removed 16,142,450 shares (-15.7%) from their portfolio in Q4 2025, for an estimated $735,127,173
DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTS BANK, FRANKFURT AM MAIN added 11,243,248 shares (+876.7%) to their portfolio in Q4 2025, for an estimated $512,017,513
PRICE T ROWE ASSOCIATES INC /MD/ added 4,278,573 shares (+58.2%) to their portfolio in Q4 2025, for an estimated $194,846,214
BESSEMER GROUP INC added 3,464,637 shares (+12983.5%) to their portfolio in Q4 2025, for an estimated $157,779,568
PACER ADVISORS, INC. removed 3,315,070 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $150,968,287

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$BKR Analyst Ratings

Wall Street analysts have issued reports on $BKR in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Barclays issued a "Overweight" rating on 01/27/2026
Stifel issued a "Buy" rating on 01/21/2026
TD Cowen issued a "Buy" rating on 10/27/2025

To track analyst ratings and price targets for $BKR, check out Quiver Quantitative's $BKR forecast page.

$BKR Price Targets

Multiple analysts have issued price targets for $BKR recently. We have seen 11 analysts offer price targets for $BKR in the last 6 months, with a median target of $65.0.

Here are some recent targets:

Charles Minervino from Susquehanna set a target price of $70.0 on 04/07/2026
Scott Gruber from Citigroup set a target price of $69.0 on 04/07/2026
Josh Silverstein from UBS set a target price of $69.0 on 04/02/2026
James West from Evercore ISI Group set a target price of $68.0 on 02/11/2026
Lloyd Byrne from Jefferies set a target price of $67.0 on 02/02/2026
Stephen Gengaro from Stifel set a target price of $63.0 on 02/02/2026
Sean Meakim from JP Morgan set a target price of $60.0 on 01/27/2026

Full Release

Baker Hughes to sell Waygate Technologies business to Hexagon in an all-cash transaction for approximately $1.45 billion, before customary closing adjustments
This transaction is consistent with Baker Hughes’ strategic approach to value creation and portfolio management

HOUSTON and LONDON, April 13, 2026 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR, “the Company”), an energy technology company, announced Monday that it has entered into an agreement to sell its Waygate Technologies business to Hexagon, a global leader in measurement technologies. The all-cash transaction is valued at approximately $1.45 billion, before customary closing adjustments.

Waygate Technologies, part of Baker Hughes’ Industrial & Energy Technology (IET) segment, is a global leader in advanced non-destructive testing for the inspection of critical assets without disruption. The sale encompasses Waygate Technologies’ remote visual inspection, ultrasound, radiography, and imaging solutions portfolios, and all assets of the business, including intellectual property, footprint and resources.

This divestiture, alongside the three recently completed transactions and the pending acquisition of Chart Industries, demonstrates Baker Hughes’ ongoing dedication to strategic, value-driven portfolio management. These actions are intended to enhance the durability of earnings and cash flow, with the proceeds further reinforcing the strength of the Company’s balance sheet. Through a disciplined, returns-focused capital allocation approach, Baker Hughes continues to strengthen its position for sustainable, long-term growth.

“This transaction marks another significant milestone and reinforces our ongoing commitment to long-term value creation for our shareholders,” said Baker Hughes Chairman and CEO Lorenzo Simonelli. “By sharpening our focus on our core strengths – rotating equipment, flow control, digital, production optimization and decarbonization – we are strategically positioning Baker Hughes to deliver higher returns while accelerating investment in high-growth areas that are aligned with our long-term vision.”

Hexagon, with headquarters in Stockholm, has approximately 24,500 employees in 50 countries. A global leader in precision measurement, positioning, and autonomous solutions, Hexagon provides the confidence that customers rely on to build, navigate, and innovate, driving productivity, quality, safety, and sustainability in industries like aerospace & defense, automotive, construction, general manufacturing and mining.

The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to close in the second half of 2026.

J.P. Morgan Securities LLC is serving as exclusive financial adviser for Baker Hughes on this transaction.

About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

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