Hexagon AB announced it has signed a definitive agreement to acquire Waygate Technologies from Baker Hughes in a transaction valued at approximately $1.45 billion.
The acquisition marks a significant strategic expansion for Hexagon into the non-destructive testing (NDT) market, extending its precision measurement capabilities beyond surface-level inspection to include internal component analysis. Waygate Technologies is a global leader in computed tomography, radiography, and remote visual inspection, generating approximately $630 million in revenue and employing around 1,500 people across 25 locations worldwide.
The deal strengthens Hexagon’s Manufacturing Intelligence division by integrating Waygate’s inspection hardware with Hexagon’s existing metrology software, data analytics, and production quality platforms. The combined offering is designed to provide end-to-end quality assurance across the full lifecycle of industrial components, from manufacturing through maintenance, repair, and operations.
Waygate’s radiography and remote visual inspection businesses will be prioritized as growth and profitability drivers within Hexagon’s portfolio, while its ultrasonic testing and imaging solutions units will undergo performance improvement initiatives, including potential strategic reviews.
The acquisition also provides Hexagon with entry into the aerospace maintenance, repair, and overhaul market, where Waygate’s remote visual inspection technology is widely used for aircraft engine inspections. In addition, Hexagon expects to unlock value through operational efficiencies, manufacturing optimization, and cross-selling opportunities across its global customer base.
The transaction is expected to close in the second half of 2026, subject to customary regulatory approvals, and will be financed through a combination of cash and existing debt capacity.
KEY QUOTES:
“This acquisition is a natural and exciting evolution of Hexagon Manufacturing Intelligence’s strategy. Waygate Technologies brings world-class inspection technology and deeply loyal customer relationships in markets that are highly complementary to our own. By combining Waygate’s NDT expertise with Hexagon’s precision measurement portfolio, software capabilities, and global infrastructure, we will create a uniquely integrated offering that helps our customers achieve higher quality, greater efficiency, and improved confidence across the full product lifecycle.”
“We also see a significant opportunity to create value by applying Hexagon’s operating model, which is built on driving closeness to customers via accountability and strong performance management, to Waygate’s businesses and driving meaningful margin improvement over the medium term.”
Anders Svensson, President And CEO, Hexagon
