Waygate generates approximately $630 million in annual revenue with approximately 1,500 employees in 25 locations. Gives agreement Hexagon’s Manufacturing Intelligence division computer tomography, radiography and remote visual inspection technology with a combined heritage of 130+ years.
HexagonalStockholm-headquartered measurement and sensor technology group has agreed to acquire energy technology company Waygate Technologies. 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, the field of industrial inspection that detects faults and structural defects in components without disassembly or damage. The deal is expected to close in the second half of 2026, subject to regulatory approval. JP Morgan is serving as exclusive financial advisor to Baker Hughes in connection with the transaction.
Waygate Technologies is headquartered in Germany and operates in 25 locations worldwide, employing approximately 1,500 people. In fiscal 2025, it generated annual revenue of approximately $630 million with an EBIT margin of 10%.
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The company carries a combined heritage of over 130 years through its collection of legacy NDT brands such as Krautkämer, Phoenix, Seifert, Everest and Agfa NDT. Its technology portfolio covers four main areas: computed tomography (CT), radiography, remote imaging and ultrasound.
In March 2026, Frost & Sullivan named it Global Company of the Year in a remote visual inspection. Waygate’s revenue is geographically spread across Asia (34%), North America (30%), Europe (28%) and the rest of the world (8%), serving the aerospace, automotive, energy, battery, electronics, rail and advanced manufacturing industries.
For Hexagon, the acquisition represents a meaningful expansion of its Manufacturing Intelligence division.
The company’s existing precision measurement portfolio excels in external surface analysis, external geometry measurement and quality inspection of manufactured components. Waygate’s NDT technology embeds this capability into the internal structure of parts, enabling flaw detection and non-destructive dimensional verification.
Hexagon classified Waygate’s Radiography and Remote Visual Inspection businesses as “Profitability” and “Growth” assets, respectively, within its operating model, indicating that they will receive active investment and expansion, while classifying Ultrasound and Imaging Solutions as “Stability” assets that could include additional strategic investments. Hexagon plans to finance the transaction using available cash and existing debt facilities.
For Baker Hughes, sales are represented as portfolio management. Lorenzo Simonelli, CEO of the company, said this “It marks another important milestone and reinforces our continued commitment to creating long-term value for our shareholders.”
Waygate sits within Baker Hughes’ Industrial and Energy Technologies segment, which is facing pressure to sharpen its focus. Ditching the $630 million business at about 2.3 times earnings allows Baker Hughes to focus capital on core rotating equipment and decarbonization priorities.
