Baker Hughes agreed to sell its Waygate Technologies unit to Sweden’s Hexagon for $1.45 billion in cash, the companies announced. The Germany-based Waygate specializes in structural integrity testing for materials across industries, generating $630 million in revenue and a 10% EBIT margin in fiscal 2025. Hexagon plans to integrate Waygate’s tech with its existing systems, aiming to boost margins via manufacturing optimization, China market expansion, and revenue synergies. Baker Hughes CEO Lorenzo Simonelli cited the move as part of a strategy to prioritize core strengths and reinvest in high-growth areas. The deal signals Baker Hughes’s shift toward streamlining operations while Hexagon gains a foothold in critical industrial testing markets.