Oilfield services provider Baker Hughes sold its Waygate Technologies unit to Swedish industrial technology group Hexagon for about $1.45 billion in cash, the two companies said on Monday.
The deal is expected to close in the second half of 2026, the companies added.
Hexagon said it plans to finance the acquisition using cash and existing debt capacity.
Last year, Baker Hughes agreed to buy Chart Industries in a $13.6 billion nL4N3TQ0T9 all-cash deal to leverage its industrial and energy technology portfolio to drive growth and expand its presence in the natural gas and LNG sectors.
Baker Hughes CEO Lorenzo Simonelli has been reshaping the company to adapt to the global energy transition nL4N3Z71U8, shedding non-core assets while investing in cleaner energy solutions.
(Reporting by Gnaneshwar Rajan in Bengaluru)
